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TORONTO, Sept. 21, 2020 (GLOBE NEWSWIRE) — Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that it has entered into an amendment to its existing revolving credit facility (“Credit Facility”) in order to, among other things, exercise a portion of the accordion feature of the Credit Facility. The exercise of the accordion feature has increased the total revolving commitment of the lenders under the Credit Facility by $35,000,000, bringing the aggregate limit under the Credit Facility to $535,000,000. General terms of the Credit Facility remain unchanged.The Company also announces that it has issued a notice of redemption to holders of the 5.40% convertible unsecured subordinated debentures due July 31, 2021 (the “Debentures”), representing a redemption in full of all of the currently outstanding Debentures.The Debentures will be redeemed on October 22, 2020 (the “Redemption Date”) in accordance with their terms. The Debentures will be redeemed at a redemption price of $1,000 plus accrued and unpaid interest of $12.2459 up to but excluding the Redemption Date, both per $1,000 principal amount of Debentures. As of the close of trading on September 17, 2020, the aggregate principal amount of the Debentures outstanding was $45,800,000. The Company intends to draw from its Credit Facility to fund the redemption price plus accrued and unpaid interest.The Debentures are currently listed for trading on the Toronto Stock Exchange under the symbol “TF.DB.A” and may be converted in accordance with their terms into common shares of the Company until the close of business on October 21, 2020.About Timbercreek FinancialTimbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors.DisclaimersThis news release contains forward-looking statements about Timbercreek Financial. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “intend”, “plan”, “seek”, “strive”, “will”, “may”, “potential” and “should” and similar expressions concerning matters that are not historical facts. By their nature, forward looking statements reflect the Company’s current views, beliefs, assumptions and intentions, and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the Company’s public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. The Company does not intend to nor assumes any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.For further information:
Timbercreek Financial
Cam Goodnough
President & Chief Executive Officer
[email protected]

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