Daily News: May 7, 2019

Texas Capital Upsizes Terra Firma Facility to $35MM


Terra Firma Capital expanded its current debt facility with Texas Capital Bank from $20 million to $35 million.

The expanded debt facility will be utilized to support the funding of additional loans and investments in the company’s wholly owned subsidiary, TFCC USA.

“The expansion of our credit facility with Texas Capital not only provides us with much needed growth capital for our transactions in the U.S., but also provides us with a lower cost of capital in order for the company to meet or exceed its targeted yields for our growing pipeline of new loans and investments,” said Glenn Watchorn, president and chief executive officer.

Toronto-based Terra Firma is a full service, publicly traded real estate finance company that provides real estate financings secured by investment properties and real estate developments throughout Canada and the U.S.