OAKVILLE, ON, March 12, 2014 /CNW/ - Vicwest Inc. (the "Company") ( TSX: VIC, VIC.DB, VIC.DB.A ) today announced that it has negotiated a five year, $120 million revolving senior secured Asset Based Lending ("ABL") facility including a $25 million accordion feature, with a syndicate of lenders, co-led by Canadian Imperial Bank of Commerce ("CIBC") and National Bank of Canada, that includes Royal Bank of Canada and the Bank of Nova Scotia. CIBC will serve as the administrative agent. The new facility is available to finance working capital, capital expenditures and future acquisitions and replaces the Company's existing $100 million revolving senior credit facility which was subsequently terminated. "The ABL structure is much better aligned with our business due to both the seasonal nature of our agriculture and building products markets and our working capital requirements.