Clairvest provides Discovery Air revolving credit facility from Clairvest

Discovery Air Inc. (TSX: DA.A) subsidiary, Discovery Air Defence Services Inc. has entered into a credit agreement with Clairvest Group Inc. for a revolving credit facility in the amount USD25 million, the company said.

All borrowings under the revolving credit facility are secured, bear interest at a rate of 12 percent per annum payable on February 15, 2017 and May 15, 2017 and mature on June 30, 2017.

Discovery Air Inc. is an aviation services company that delivers air combat training, medivac-equipped aircraft services, airborne firefighting services, air charter services, helicopter operations, and transport and logistics support to ensure operational readiness, health, safety and vital lifelines.