Automotive Finco Corp. Announces Extension of Maturity Date of $21 Million Loan and Deferral of Annual Cash Dividends
Automotive Finco Corp. Announces Extension of Maturity Date of $21 Million Loan and Deferral of Annual Cash Dividends
About Automotive Finco Corp.Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
不用于向美国新闻通讯社分发或在美国传播。本新闻稿不构成美国任何证券的卖出要约或收购要约的邀请。
TORONTO, Nov. 23, 2023 (GLOBE NEWSWIRE) -- Automotive Finco Corp. (NEX: AFCC-H) (the "Company") announces that AA Finance Co LP (the "Borrower") has elected to extend the maturity date of the $21 million loan made between Automotive Finance Limited Partnership and AA Finance Co LP in November 2022 by one year to November 18, 2024, pursuant to the loan agreement. The loan bears interest at the rate of 12% per annum. The Borrower has also elected to pay interest in kind ("PIK Interest") with respect to the quarterly interest payments. All amounts of accrued PIK Interest have been added to the principal amount of the loan at each interest payment date and bear interest until repaid. Accordingly, the Company also announces that there will be no annual dividend in December 2023. The Company intends to pay dividends at the end of December 2024 at the same effective rate of $0.205/annum per common share.
多伦多，2023 年 11 月 23 日（环球新闻专线）—— Automotive Finco Corp.（NEX： AFCC-H) （“公司”）宣布，根据贷款协议，AA Finance Co LP（“借款人”）选择将汽车金融有限合伙企业与AA Finance Co LP于2022年11月发放的2100万美元贷款的到期日延长一年，至2024年11月18日。该贷款的年利率为12％。借款人还选择为季度利息支付实物利息（“PIK利息”）。在每个利息支付日，所有应计的PIK利息均已添加到贷款本金中，并在偿还之前计息。因此，公司还宣布，2023年12月将不派发年度股息。公司打算在2024年12月底以相同的有效利率支付股息，即每股普通股每年0.205美元。
The declaration, amount and payment of future cash dividends are subject to the board of directors' continuing determination that the payment of dividends is in the best interests of the Company, its shareholders and is in compliance with all laws and agreements of the Company applicable to the declaration and payment of cash dividends.
未来现金分红的申报、金额和支付取决于董事会的持续决定，即股息的支付符合公司及其股东的最大利益，并遵守公司适用于申报和支付现金分红的所有法律和协议。
About Automotive Finco Corp.
关于汽车金融公司
Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.
Automotive Finco Corp. 是一家专注于汽车零售领域的金融公司。除了对汽车金融有限合伙企业的兴趣外，该公司还可能在汽车零售领域寻求其他直接投资和融资机会。
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多伦多证券交易所风险交易所及其监管服务提供商（该术语在多伦多证券交易所风险交易所的政策中定义）均不对本新闻稿的充分性或准确性承担责任。
For further information please refer to the Company's website at or contact Shannon Penney, Chief Financial Officer, at shannon.penney@rogers.com or (905) 619-4996.
欲了解更多信息，请访问公司的网站 或者通过 shannon.penney@rogers.com 或 (905) 619-4996 联系首席财务官香农·彭尼。
