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Accord Announces Amendments to its Banking Facility
March 18, 2024ccord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today announced that it has entered into amendments to its primary credit facility with its banking syndicate. As disclosed in its third quarter report, in November 2023, the Company uncovered significant irregularities in collateral reporting by a borrower related to a $14.4 million loan, which led the Company to record a specific provision for credit losses relating to this loan.
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Accord Announces Amendments to its Banking Facility
March 18, 2024ccord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today announced that it has entered into amendments to its primary credit facility with its banking syndicate. As disclosed in its third quarter report, in November 2023, the Company uncovered significant irregularities in collateral reporting by a borrower related to a $14.4 million loan, which led the Company to record a specific provision for credit losses relating to this loan.
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