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  • ECN Capital (ECN) has closed its offering of senior unsecured debentures
  • The syndicate of underwriters were co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and RBC Capital Markets
  • The debentures bear interest at a rate of 6.00 per cent per annum, payable semi-annually
  • The debentures will commence trading today on the TSX under the symbol ECN.DB.A
  • ECN Capital is a leading provider of business services to US-based banks, credit unions, life insurance companies and investment funds
  • ECN Capital Corp. (TSX: ECN) opened trading at C$10.76 per share

ECN Capital (ECN) has closed its offering of senior unsecured debentures due December 31, 2026.

The $75 million offering was conducted by a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and RBC Capital Markets, and included TD Securities Inc., Raymond James Ltd., Cormark Securities Inc. and Stifel GMP.

ECN Capital granted the underwriters an over-allotment option to purchase up to an additional $11.25 million of debentures, exercisable in whole or in part, for a period of 30 days following the closing of the offering.

The debentures bear interest at a rate of 6.00 per cent per annum, payable semi-annually, with the first interest payment on December 31, 2021. The debentures will mature on December 31, 2026.

ECN Capital intends to use the net proceeds from the sale of the debentures to repay outstanding securities and/or indebtedness and for general corporate purposes.

The debentures will commence trading today (October 28) on the TSX under the symbol ECN.DB.A.

ECN Capital is a leading provider of business services to US-based banks, credit unions, life insurance companies and investment funds. ECN Capital originates, manages and advises on credit assets on behalf of its Partners, specifically unsecured loan portfolios, secured loan portfolios and credit card portfolios.

ECN Capital Corp. (TSX: ECN) opened trading at C$10.76 per share.

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