Accord Financial Closes Sale of US Portfolio Assets

Core Insights - Accord Financial Corp. has completed the sale of certain loans from its US subsidiary, generating gross proceeds of approximately CAD 8.4 million (USD 6.1 million) as part of its strategic plan to divest non-core assets and refocus on the Canadian market [1] - The company has reduced its bank indebtedness by approximately CAD 38.2 million (USD 27.8 million) since December 2025 through additional loan sales and repayments [1] - The company is actively pursuing further transactions to divest remaining US portfolio assets to repay outstanding debt obligations [1] Financial Strategy - The sale is a key component of Accord's strategy to refinance its outstanding debt and streamline its business operations [1] - The maturity of the senior secured revolving credit facility has been extended to March 31, 2026, and the total commitment has been reduced from CAD 190 million to CAD 160 million [2] - The company has also extended the maturity of its outstanding debentures to July 31, 2026, as part of its refinancing efforts [1] Management Commentary - Simon Hitzig, President & CEO of Accord, expressed satisfaction with the completion of the deal, emphasizing the company's focus on its Canadian business while ensuring that US clients are well taken care of [1]