November 18, 2009 (FinancialWire) — IMAX Corp. (NASDAQ: IMAX) (TSX: IMX) has entered into a new credit facility with Wachovia Capital Finance Corp. pursuant to which Wachovia, with the participation of Export Development Canada, has committed to provide a four-year senior secured $75 million credit facility.

The credit facility consists of revolving loans of up to $40 million and a term loan of $35 million. The company intends to use the new facility to finance its future growth and working capital requirements. The credit facility matures on October 31, 2013 and replaces the company’s previous $40 million credit facility which was to mature in October of 2010.

Borrowings under the credit facility will bear interest at variable rates based on LIBOR or Wachovia’s prime rate plus variable margins at the Borrower’s option, under which applicable interest rates currently range from 3% to 4% per annum.

As previously announced on October 2, 2009, the company called $75 million of its senior notes for redemption on December 1, 2009. Today, the company has given notice to its trustee of its intent to redeem its remaining $29.4 million principal amount of its 9 5/8% senior notes due December 1, 2010 (the “Notes). The redemption notice stipulates a redemption date of December 21, 2009 at a price of 100.00%, plus accrued and unpaid interest. Upon completion of the current redemptions, the company will have redeemed the full $160 million 9 5/8% senior notes due December 2010.

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Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279). Tuesday’s issued reports and/or recorded webcasts include Cavico Corp. (OTCBB: CVIC), Thornburg Ltd. Term Income Fund (NASDAQ: THIFX), Apache Corp. (NYSE: APA), Baytex Energy Trust (NYSE: BTE), Citizens, Inc. (NYSE: CIA), Scottish Oriental Smaller Companies Trust PLC (OTC: SCSHF) (London Stock Exchange: SOST), JPMorgan Elect Plc (London Stock Exchange: JPE) and Solitario Exploration & Royalty Corp. (AMEX: XPL).

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