EDMONTON, Aug. 27, 2014 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company") announces the approval of its request to renew the senior credit facility for Canadian operations. The maturity date has been extended by two years to November 1, 2016. The credit limit of $205 million and the interest rate remain unchanged.
"We are pleased to receive the extension to the Canadian credit facility from Carfinco's lending syndicate, led by Bank of America, N.A., and including Wells Fargo Financial Corporation Canada, Bank of Montreal and Alberta Treasury Branches," stated Mr. Tracy Graf, CEO of Carfinco.
About Carfinco Financial Group Inc.
Carfinco, through its Canadian and United States subsidiaries (collectively, "Carfinco"), focuses on providing indirect consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plans to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The shares of Carfinco trade on The Toronto Stock Exchange under the symbol "CFN".
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
SOURCE: Carfinco Financial Group Inc.
For further information: Mr. Tracy A. Graf, CEO & Director of Carfinco Financial Group Inc., Telephone: 1-888-486-4356, Facsimile: 1-888-486-7456, E-mail: [email protected], Web site: www.carfinco.com; The Howard Group Inc., Jeff Walker, Investor Relations, Telephone: 1-888-221-0915, E-mail: [email protected], Web site: www.howardgroupinc.com