Accord Financial amended its senior secured revolving credit facility, extending the maturity date to December 15, 2025.

This amendment follows two recent short-term extensions: the first announced on July 25, 2025, and the second on August 8, 2025, which extended the maturity date to August 15, 2025. Under the new terms, the total commitment will be reduced from $260 million to $200 million. The amendment also incorporates milestones tied to potential asset sales (with net proceeds to be used to repay bank indebtedness), increases the interest rate on drawn amounts by 1.00%, and updates certain financial covenants.

“While the amendment includes higher pricing and a reduced commitment, the extension provides time for the Company to continue to actively pursue a broad range of strategic initiatives to address the Company’s maturing debt obligations (totalling $217.6 million as at June 30, 2025 and coming due by January 31, 2026) and maximize shareholder value,” said Mr. Hitzig. “These include potential divestitures of portfolio assets or business units, as well as other financing alternatives. The Company continues to work closely with its financial advisors, but there is no assurance that these initiatives will yield a successful result. While we focus on these initiatives, profitable operating performance and growth will continue to be a challenge.”

 The Company does not plan to provide further updates on its strategic initiatives unless material developments emerge.