Officials from Hip Interactive have announced that the company has secured a renewal of its operating credit facility with The Bank of Nova Scotia, following the completion of its annual review this week.
The bank will maintain the company's $25 million operating credit facility with an increase to $40 million during the company's busy selling season from September 1 through February 28.
In addition, the company now has access to a second $15 million increase to $55 million available immediately until December 15. The facility is a demand facility, renewable annually, which will be used for working capital purposes.
Source: Business Wire