Business
Crown Capital Announces $35.0 Million Credit Facility to Support Continued Growth
Crown Capital Announces $35.0 Million Credit Facility to Support Continued Growth ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Announces $35.0 Million Credit Facility to Support Continued Growth\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 30, 2016\n\n\n\nCALGARY, Dec. 30, 2016 /CNW/ - Crown Capital Partners Inc. (\"Crown\") (TSX: CRN), which provides growth capital to successful mid-market companies, today announced that it has entered an agreement for a $35.0 million senior secured revolving credit facility (\"Credit Facility\") with Alberta Treasury Branches (\"ATB\") and Business Development Bank of Canada (\"BDC\"). Crown will use the Credit Facility to fund investments in mid-market companies. \n\n\"This new facility diversifies our sources of funding and increases our capacity to continue to build the portfolio while also enhancing returns for Crown's shareholders,\" said Chris Johnson, Crown's President & CEO. \"We value the support of ATB and BDC and look forward to working with them as we execute on our business plan. We continue to see strong demand for our financing solutions.\"\n\nThe Credit Facility provides financing at a variable interest rate based on the Bankers Acceptance rate plus 375bps to 425bps and has a customary set of covenants. The Credit Facility matures in three years and is subject to extension annually. \n\nABOUT CROWN\n\nCrown (TSX: CRN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution. \n\nFORWARD-LOOKING STATEMENTS\n\nThis news release contains certain \"forward-looking statements\" and certain \"forward-looking information\" as defined under applicable Canadian...