Knightsbridge Capital Group Announces $100 Million Credit Agreement with BCI
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2020) - Knightsbridge Capital Group, an asset-based lender based in Vancouver, is pleased to announce that it has entered into a credit agreement with British Columbia Investment Management Corporation ("BCI") for a $100 million operating facility to leverage one of its asset-based funds - Maynbridge Capital Inc.
"We are very excited to have found a significant local partner to help fuel the growth of our unique lending platform," said Dean Shillington, President & Founder of Knightsbridge Capital Group and Maynbridge Capital Inc. "We have developed a very successful track record in finding unique ways to provide financial support to businesses through their darkest hour, and this facility will allow us to grow our platform and continue supporting businesses across the country through challenging times."
Chris Beauchemin, Vice President, Fixed Income & Foreign Exchange at BCI added "As BCI builds out our direct lending business for our clients, we value working with successful local businesses such as Knightsbridge Capital Group."
Raymond James' Private Capital Solutions Investment Banking Group advised Knightsbridge Capital Group on the new leverage facility.
About Maynbridge Capital Inc. ("Maynbridge")
Founded in 2013, Maynbridge's vision is to successfully guide companies through the full spectrum of what are commonly considered "riskier situations" by the general financial community. By designing lending programs around improving a business' cash flows and the injection of new working capital, most often Maynbridge successfully reinvigorates businesses to the point where its clients have the option to return to more traditional lenders within 12-18 months. Maynbridge offers loans from $2 - $50 million with supporting underlying assets in industrial and commercial property, equipment and rolling stock. More information can be found at www.maynbridge.com.
About British Columbia Investment Management Corporation ("BCI")
With $153.4 billion of managed assets, BCI is a leading provider of investment management services to British Columbia's public sector and one of Canada's largest asset managers. We generate the investment returns that help our institutional clients build a financially secure future. With our global outlook, we seek investment opportunities that convert savings into productive capital that will meet our clients' risk/return requirements over time. BCI invests across a range of asset classes: fixed income; mortgages; public and private equity; real estate; infrastructure; and renewable resources. More information can be found at www.bci.ca.
For further information, please contact:
Robin Lawder
604-684-7070
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52327
