Dominion Lending Centres amended and extended its credit facilities with The Toronto-Dominion Bank effective Feb. 18, 2025. The maturity date for the credit facilities has been extended from Dec. 19, 2026 to Feb. 18, 2030.
The amended credit facilities are comprised of two senior credit facilities. The senior credit facilities provide the corporation with a revolving credit line and a term facility. The revolving credit facility was increased by $10 million, from $15 million to $25 million, and was undrawn at closing. The term facility has $30.48 million drawn at closing. Interest on the senior credit facilities is based on the prime borrowing rate (or alternatively, at the corporation’s option, Term CORRA (Canadian Overnight Repo Rate Average)) plus an additional amount determined based on the corporation’s total leverage. On closing of the facilities, the interest rate is anticipated to be equal to the prime borrowing rate.
