Automotive Finco Corp. Announces Completion of Redemption of Convertible Debentures
December 16 2019 - 5:16PM
Automotive Finco Corp. (TSX-V: AFCC) (“
AFCC” or
the “
Company”) is pleased to announce that,
further to its news release dated October 7, 2019, it completed the
redemption of all of its outstanding 6.75% convertible senior
unsecured debentures maturing on June 30, 2022 (the
“
Debentures”), in accordance with the terms of the
indenture dated June 23, 2017.
On October 7, 2019, the Company issued a
redemption notice in respect of the outstanding principal amount of
$30,615,000.00 Debentures. The Debentures were redeemed today at a
redemption price equal to the aggregate of 103% of $1,000 and all
accrued and unpaid interest thereon. All interest on the Debentures
ceased to be payable from and after today.
About Automotive Finco Corp.
Automotive Finco Corp. is a high growth
specialty finance company focused exclusively on the auto retail
sector. Through its investment in Automotive Finance LP, AFCC has
exposure to a business providing long term, debt based acquisition
financing to auto dealerships across the globe, with an initial
focus on Canada. In addition to its interest in Automotive Finance
LP, AFCC may also pursue other direct investments and financing
opportunities across the auto retail sector.
For further information, please refer to AFCC’s
website: www.autofincocorp.com.
For further information, please contact:
Kuldeep Billan, Email:
kbillan@autofincocorp.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains certain
forward-looking statements within the meaning of applicable
securities laws relating to the Company’s plans, objectives,
expectations and intentions. The use of any of the words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends", "confident", "might" and similar expressions are
intended to identify forward-looking information or
statements. Various assumptions were used in drawing the
conclusions or making the projections contained in the
forward-looking statements throughout this news release. The
forward-looking information and statements included in this news
release are not guarantees of future performance and should not be
unduly relied upon. Forward-looking statements are based on current
expectations, estimates and projections that involve a number of
risks and uncertainties, which could cause actual results to differ
materially from those anticipated and described in the
forward-looking statements. There can be no assurance that such
information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information. A description of assumptions used to develop such
forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking
information can be found in AFCC’s disclosure documents on the
SEDAR website at www.sedar.com. AFCC does not undertake to update
any forward looking information except in accordance with
applicable securities laws.
Automotive Finco (TSXV:AFCC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Automotive Finco (TSXV:AFCC)
Historical Stock Chart
From Jul 2023 to Jul 2024