Terra Firma Capital Corp. TFCCF

Terra Firma increases debt facility to $35M (U.S.)

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Terra Firma increases debt facility to $35M (U.S.)

 

2019-05-06 10:52 ET - News Release

 

Mr. Glenn Watchorn reports

TERRA FIRMA CAPITAL CORPORATION ANNOUNCES THE EXPANSION OF ITS U.S. CREDIT FACILITY WITH TEXAS CAPITAL BANK TO US$35 MILLION (CDN$47 MILLION)

Terra Firma Capital Corp. has expanded its current debt facility with Texas Capital Bank from US$20 million to US$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 LLC.

"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.

About Terra Firma

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 United States. The Company focuses on arranging and providing financing with flexible terms to real estate developers and owners who require shorter-term loans to bridge a transitional period of one to five years where they require capital at various stages of development or redevelopment of a property. These loans are typically repaid with lower cost, longer-term debt obtained from other Canadian financial institutions once the applicable transitional period is over or the redevelopment is complete, or from proceeds generated from the sale of the real estate assets. Terra Firma offers a full spectrum of real estate financing under the guidance of strict corporate governance, clarity and transparency.

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