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Wells Fargo Leads Lenders in Rifco’s $100MM Credit Facility

February 19, 2016, 07:53 AM
Filed Under: Lender Finance

Rifco National Auto Finance Corporation, subsidiary of Rifco Inc. has extended its $100 million bank line of credit from the Wells Fargo lead banking syndicate.

The facility will now be a three-year committed facility with a maturity date of Feb 17, 2019 extended from Nov 2, 2016. The terms and conditions of the renewal are broadly comparable to those currently being received. The company has a range of financial covenants on the facility which are all being met.

The Company continues to have four funding facilities with limits totaling $255 million with remaining funding availability of over $130 million.

Rifco Inc. operates through its wholly owned subsidiary Rifco National Auto Finance Corporation to provide automobile loans through its dealership network across Canada.

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