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ECN Capital Corp T.ECN

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

Financial Services
ECN Capital Corp. is a Canada-based company. The Company is a provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). It 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 (RV) and Marine Finance. Its business segment includes Triad Financial Services, Source One Financial, and Intercoastal Finance Group. The Triad Financial Services is a portfolio solutions platform focused on originating and managing longer duration secured consumer loan portfolios for active partner. The Source One Financial originates prime and super-prime loans to consumers to facilitate the purchase of recreational and marine vehicles.


TSX:ECN - Post by User

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

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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