RF Capital obtains C$200 million two-year revolver

By Rebecca Melvin

Concord, N.H., Sept. 10 – RF Capital Group Inc. has secured a C$200 million revolving credit facility with a syndicate of lenders including Canadian Imperial Bank of Commerce as administrative agent, and with CIBC and BMO Capital Markets acting as co-lead arrangers, and support from Canadian Western Bank and the Bank of China, according to a company release.

The facility has an initial two-year term with an option for additional one-year terms.

The initial authorized principal of the facility is C$125 million. The facility also includes a C$75 million accordion provision that will enable the company to request increases in the total commitment under the same terms.

Interest on the loan will be about 25 basis points to 75 bps less than what the company pays on its existing debt facility. The facility will bear interest at a spread over prescribed benchmark rates, depending on the company's leverage at the time that it draws on the facility.

The borrowings will be used to build the company into the brand choice for Canada’s top advisors and high-net-worth clients and increase shareholder value, the company said.

The financial services company is based in Toronto.

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