Cinar secures $80 mil credit line

MONTREAL — Cinar Films of Montreal announced Wednesday that it has reached an agreement for a new five-year line of credit worth C$110 million ($80 million) from the Royal Bank of Canada and the Banking Branch and Trust Bank of North Carolina.

Other terms of the agreement were not revealed by the Cinar executives.

Cinar president Ronald Weinberg said the children’s TV producer and distributor will use the cash to help expand its entertainment and educational activities.

Cinar produces a range of kid’s programming, including “Arthur,” “The Little Lulu Show” and “The Busy World of Richard Scarry.” The Canadian company recently made its first major foray into the educational field with the acquisition of educational publisher Carson-Dellosa Publishing Co. of Greensboro, N.C. for $40.5 million.

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