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Timbercreek Financial Extends Term of Revolving Credit Facility

·2 min read

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that on May 10, 2021, the Company entered into an amendment to its existing revolving credit facility to, among other things, extend the term of the facility for an additional sixteen and a half months to May 10, 2023 and amend the Company’s option to increase the total revolving commitment of the lenders by way of an accordion feature of up to $100 million. A syndicate of lenders provides the Company’s existing revolving credit facility with a total commitment of $535 million (which includes a $20 million swingline facility), with The Toronto-Dominion Bank acting as sole lead arranger, sole book-runner and administration agent.

About Timbercreek Financial

Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors.

Disclaimers

This news release contains forward-looking statements about Timbercreek Financial. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “intend”, “plan”, “seek”, “strive”, “will”, “may”, “potential” and “should” and similar expressions concerning matters that are not historical facts. By their nature, forward looking statements reflect the Company's current views, beliefs, assumptions and intentions, and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. The Company does not intend to nor assumes any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

For further information:
Timbercreek Financial
Blair Tamblyn
Chief Executive Officer
btamblyn@timbercreek.com