Dominion Lending Centres Inc. Increases and Extends Credit Facility
VANCOUVER, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”) is pleased to announce that it has amended and extended its credit facilities with The Toronto-Dominion Bank effective February 18, 2025. The maturity date for the credit facilities has been extended from December 19, 2026 to February 18, 2030.
The amended credit facilities are comprised of two senior credit facilities (collectively, the “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 Senior Credit Facilities, the interest rate is anticipated to be equal to the prime borrowing rate.
About Dominion Lending Centres Inc.
Dominion Lending Centres Inc. is Canada’s leading network of mortgage professionals. DLCG operates through Dominion Lending Centres Inc. and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. DLCG extensive network includes over 8,500 agents and over 500 locations. Headquartered in British Columbia, DLC was founded in 2006 by Gary Mauris and Chris Kayat.
DLCG can be found on X (Twitter), Facebook and Instagram and LinkedIn @DLCGmortgage and on the web at .
Contact information for the Corporation is as follows:
| Eddy Cocciollo President 647-403-7320 | James Bell EVP, Corporate and Chief Legal Officer 403-560-0821 | ||
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