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
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.
不用於向美國新聞通訊社分發或在美國傳播。本新聞稿不構成美國任何證券的賣出要約或收購要約的邀請。
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.
多倫多，2023 年 11 月 23 日（環球新聞專線）—— Automotive Finco Corp.（NEX： AFCC-H) （“公司”）宣佈，根據貸款協議，AA Finance Co LP（“借款人”）選擇將汽車金融有限合夥企業與AA Finance Co LP於2022年11月發放的2100萬美元貸款的到期日延長一年，至2024年11月18日。該貸款的年利率爲12％。借款人還選擇爲季度利息支付實物利息（“PIK利息”）。在每個利息支付日，所有應計的PIK利息均已添加到貸款本金中，並在償還之前計息。因此，公司還宣佈，2023年12月將不派發年度股息。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.
未來現金分紅的申報、金額和支付取決於董事會的持續決定，即股息的支付符合公司及其股東的最大利益，並遵守公司適用於申報和支付現金分紅的所有法律和協議。
About Automotive Finco Corp.
關於汽車金融公司
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. 是一家專注於汽車零售領域的金融公司。除了對汽車金融有限合夥企業的興趣外，該公司還可能在汽車零售領域尋求其他直接投資和融資機會。
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.
多倫多證券交易所風險交易所及其監管服務提供商（該術語在多倫多證券交易所風險交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
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，請訪問公司的網站 或者通過 shannon.penney@rogers.com 或 (905) 619-4996 聯繫首席財務官香農·彭尼。