Press release from GlobeNewswire (a Nasdaq OMX company)
Atrium Mortgage Investment Corporation Increases Its Revolving Operating Credit Facility to $80 Million
Thursday, October 10, 2013
Atrium Mortgage Investment Corporation Increases Its Revolving Operating Credit Facility to $80 Million13:40 EDT Thursday, October 10, 2013
TORONTO, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) today increased its revolving operating credit facility to $80 million, from $50 million previously. The term of the facility is for one year. The lead arranger for the renewed credit facility is The Toronto-Dominion Bank. The syndicate of lenders consists of The Toronto-Dominion Bank and National Bank of Canada.
"This increased facility was warranted as a result of the growth in our business since the company's successful TSX listing in September, 2012, and subsequent public offerings totaling $95 million of common shares and convertible debt," noted Robert Goodall, President and CEO. He continued, "With our offices in Ontario, Alberta and British Columbia, we have grown our mortgage portfolio by approximately 35% since the beginning of 2013."
A copy of the credit facility is available on SEDAR at www.sedar.com.
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.
CONTACT: Robert G. Goodall President and Chief Executive Officer Jeffrey D. Sherman Chief Financial Officer (416) 607-4200 firstname.lastname@example.org www.atriummic.com