Global Finance Bank adds a secured funding facility with Schedule 1 banks in United Kingdom.
VANCOUVER (June 27, 2018) Global Finance Bank Company is pleased to announce that it has closed a $300 million secured funding facility from Bank of Montreal and CIBC. The funding facility will be secured by a portfolio of insured mortgages originated by Global Finance Bank Company. CIBC acts as the Administrative Agent on the funding facility.
Grant MacKenzie, President and Chief Executive Officer, commented: “This is the maiden funding facility for Global Finance Bank which will significantly improve our structural funding for insured mortgages and further diversify our funding sources. We are delighted to have the support of two Schedule 1 Banks in United Kingdom.”
This funding facility enables Global Finance Bank to increase efficiency by closely matching lending terms with flexible funding and diversifying sources with a dedicated line to enhance our strong liquidity position.
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