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| Home : Founders Advantage Closes CAD $100 Million Senior Secured Credit Facility with Sagard Credit Partners |
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Jun 15
2017 |
Founders Advantage Closes CAD $100 Million Senior Secured Credit Facility with Sagard Credit Partners |
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CALGARY, ALBERTA--(Marketwired - June 14, 2017) - Founders Advantage Capital Corp. (TSX VENTURE:FCF) (the "Corporation") is pleased to announce that it has closed its previously announced USD $75 million (approx. CAD $100 million) senior secured credit facility (the "Senior Facility") with Sagard Holdings ULC ("Sagard Holdings"), pursuant to which Sagard Credit Partners will be the lender. The proceeds from the Senior Facility will be used to repay the Corporation's existing senior indebtedness, to complete further acquisitions and for general corporate purposes. The initial draw at closing under the Senior Facility is USD $42 million (approx. CAD $56 million), with additional draws subject to Sagard Holdings' further approval. |
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| Source:http://www.marketwired.com/mw/release.do?id=2221944&sourceType=3 |
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