Daily News: August 28, 2014

BofA Leads Carfinco Facility Extension

Carfinco Financial announced it renewed its facility for Canadian operations. Bank of America led a lending syndicate that included Wells Fargo Financial Canada, BMO and Alberta Treasury Branches.

The maturity date was extended by two years to November 1, 2016. The credit limit of $205 million and the interest rate remain unchanged.

“We are pleased to receive the extension to the Canadian credit facility from Carfinco’s lending syndicate, led by Bank of America, and including Wells Fargo Financial Corporation Canada, Bank of Montreal and Alberta Treasury Branches,” stated Tracy Graf, CEO of Carfinco.

Carfinco, through its Canadian and U.S. subsidiaries, focuses on providing indirect consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources.