TORONTO, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that on December 20, 2019, the Company entered into an amendment to its existing revolving credit facilities to extend the term of the facility for an additional year to December 18, 2021. A syndicate of lenders provides the Company’s existing revolving credit facilities in the aggregate principal amount of $500 million with The Toronto-Dominion Bank acting as sole lead arranger, sole book-runner and administration agent.
The amendment also amends the terms of the Company’s second amended and restated credit agreement to provide an option for the Company to request each lender to extend the maturity date in respect of their respective commitment from the new maturity date of December 18, 2021 to December 18, 2022 or a later date, at the option of each lender.
About Timbercreek Financial
Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors.
Disclaimers
This news release contains forward-looking statements about Timbercreek Financial. Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "intend", "plan", "seek", "strive", "will", "may", "potential" and "should" and similar expressions concerning matters that are not historical facts. By their nature, forward looking statements reflect Timbercreek Asset Management Inc.'s and the Company's current views, beliefs, assumptions and intentions, and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. The Company does not intend to nor assumes any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Timbercreek Financial
Cam Goodnough
President & CEO
cgoodnough@timbercreek.com
www.timbercreekfinancial.com