Daily News: March 3, 2015

RBC Agents Tricon Facility Increase

Tricon Capital Group increased its corporate revolving credit facility to $175 million from $105 million with RBC Capital Markets serving as lead arranger, sole bookrunner and administrative agent.

The facility included a syndicate of lenders comprised of Royal Bank of Canada, The Toronto-Dominion Bank, Bank of Montreal, JPMorgan Chase Bank, National Bank of Canada, Alberta Treasury Branches, Raymond James Bank, Canadian Western Bank and Laurentian Bank of Canada. The facility may be increased to $200 million with the approval of the lenders. The remaining key terms of the credit facility, including pricing and a maturity date of April 2018, remain unchanged.

“We are pleased to complete this upsize in our corporate credit facility to $175 million, which was oversubscribed,” stated David Berman, Tricon’s CEO. “This facility is an important part of our overall financing strategy emphasizing financial flexibility, moderate corporate leverage and an ability to continue to achieve our growth objectives in the short and long term.”