May 31, 2017 / 5:39 PM / in 5 months

BRIEF-Founders Advantage Capital enters into CAD $100 mln senior secured credit facility

May 31 (Reuters) - Founders Advantage Capital Corp :

* Founders Advantage enters into CAD $100 million senior secured credit facility with strategic capital provider, Sagard Credit Partners

* ‍proceeds from senior facility will be used to repay corporation’s existing senior indebtedness, to complete further deals

* Senior facility will have a five year term

* ‍senior facility is expected to close on or about June 16, 2017​

* Initial draw at closing under senior facility is USD $42 million with additional draws subject to Sagard’s further approval Source text for Eikon: Further company coverage:

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