FINWIRES · TerminalLIVE
FINWIRES

McCoy Global Up 11% After Closing US$10 Million Credit Facility

By

McCoy Global (MCB.TO) shares rose 11% after it closed a new US$10 million asset-based revolving credit facility (ABL facility) with a leading U.S. Schedule I international banking institution as administrative agent and lender, it said on Thursday.

The ABL facility provides enhanced liquidity and financial flexibility to support working capital requirements, reduces financing costs, and replaces the company's previous revolving credit facility with a Canadian chartered bank, which was fully repaid and terminated in Q2 2026, it said. No amounts are currently drawn under the ABL facility, it added.

The facility has a three-year term and is available to McCoy Global Inc. and McCoy Global USA Inc., and is secured by a first-priority lien on substantially all assets of the borrowers and related guarantors.

Shares of the company were last seen up $0.28 at $2.72 on the Toronto Stock Exchange.

Price: $2.73, Change: $+0.29, Percent Change: +11.89%

Related Articles

Australia

Verizon Wireless Obtains Approval From FCC for Array Digital's Spectrum Licenses

Verizon Communications (VZ) and Array Digital Infrastructure (AD) have obtained approval from the US Federal Communications Commission to assign several cellular, AWS-1, AWS-3, and PCS licenses from Array subsidiaries to Verizon Wireless, the commission said in a memorandum Thursday.The Verizon Communications subsidiary is targeting to acquire zero to 25 megahertz of cellular spectrum, zero to 20 megahertz of AWS-1 spectrum, zero to 10 megahertz of AWS-3 spectrum, and zero to 20 megahertz of PCS spectrum in 618 counties across 19 states, covering roughly 8% of the US population, according to the memorandum.The risk of public interest harm due to the applications is low, the commission said, adding that the transaction "is likely to produce public interest benefits that will enable Verizon Wireless to provide a better overall experience to its customers."Price: $47.13, Change: $-0.08, Percent Change: -0.17%

$AD$VZ
Australia

Tigress Financial Raises Apple Price Target to $375 From $305, Maintains Strong Buy Rating

Apple (AAPL) has an average rating of overweight and mean price target of $310.12, according to analysts polled by FactSet.Price: $298.36, Change: $-0.51, Percent Change: -0.17%

$AAPL
Australia

Commercial Metals' Stock Slide Overdone as Steel Market Stabilizes, UBS Says

Commercial Metals (CMC) shares have fallen far more than rivals this year even as pressures on US rebar prices have started to ease, boosting prospects for the steelmaker, UBS Securities said Wednesday in a report.Steel imports appear to have peaked, with Q1 volumes now back near typical levels, the report said. Rising steel prices in Turkey have also closed the gap that made foreign rebar cheaper to ship into the US, and a trade case targeting rebar from Bulgaria, Egypt, Vietnam and Algeria is moving toward final duties at the end of May, which could further limit low-priced imports, UBS said.New domestic steel supply looks less disruptive than feared, the report said. A new mill run by Hybar in Osceola, Arkansas, is close to steady production, and most of the additional supply coming online is from Commercial Metals and Nucor (NUE), which already dominate the US market for rebar, the steel bar used to reinforce concrete in buildings, bridges and highways, UBS said.Hybar, an "industry wild card," has a permit for a second, much larger mill and has discussed a possible third, posing a longer-term competitive risk, though only about 150,000 tons of new annual supply remain in the near term, the report said.UBS upgraded its rating on Commercial Metals stock to buy from neutral and lifted its price target to $89 from $79.Price: $72.67, Change: $+2.34, Percent Change: +3.33%

$CMC$NUE