ECN Capital Corp T.ECN

Alternate Symbol(s): T.ECN.P.C | ECNCF | ECNNF | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

Financial Services

ECN Capital Corp. is a Canada-based provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). The Company originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (inventory finance or floorplan) loans. The Company operates through two segments: Manufactured Housing Finance, and Recreational Vehicles and Marine Finance. It operates through three businesses: Triad Financial Services, which manufactures home loans; Source One Financial, which is engaged in nationwide marine and RV lending; and Intercoastal Finance Group, which is engaged in national marine and RV lending. It provides prime credit portfolio solutions: Secured consumer loan portfolios, which manufactures home loans, and Secured consumer loan portfolios, which provides marine and RV loans.

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ECN Capital Corp > Good Show of Confidence

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Post by retiredcfon Dec 15, 2021 9:33am

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Post# 34232234

Good Show of Confidence

09:05 AM EST, 12/15/2021 (MT Newswires) -- ECN Capital (ECN.TO) said Wednesday that the underwriters have agreed to buy $60 million of listed senior unsecured debentures due Dec. 31, 2027, at a price of $1,000 per debenture.

The company's shares, which rose 1.1% in Canada yesterday, were up 0.6% in early Frankfurt trading on Wednesday.

ECN Capital has also granted the underwriters an option to buy up to an additional $9 million of debentures.

The company plans to use the proceeds to fund growth initiatives and for general corporate purposes. The offering is expected to close on Dec. 23.

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