Merchant Opportunities Fund Increases BMO Credit Facility to $130 Million
VANCOUVER, BC, Jan. 11, 2024 /CNW/ - The Merchant Opportunities Fund, a Vancouver-based private debt fund focused on investing in specialty finance portfolios, today announced that it has increased its revolving debt facility with the Bank of Montreal ("BMO"). The facility now consists of a $100 million funding commitment with a two-year term along with a $30 million accordion.
Another Schedule 1 bank has been added to the facility's syndicate, bringing the total number of participating banks to three. BMO is acting as Agent and Sole Bookrunner on the revolving debt facility.
"We are thrilled to continue growing our exposures to exceptional specialty finance portfolios through this significant increase in our borrowing capacity with top tier financial institutions," said David Gens, President & CEO of the Merchant Opportunities Fund.
Through its 13 year track record of prudence and profitability, the Merchant Opportunities Fund has helped its investors generate attractive and consistent returns while also contributing to the prosperity of more than 15,000 businesses and individuals. Since its inception in 2010, the Fund has generated a compound annual return net of all fees of over 9% for its investors.
Our mission is to provide our investors with returns typically only accessible to institutional or accredited investors through private investments, coupled with greater liquidity options through flexible redemption rights. We do this by investing in short-term, small to mid-sized business credit and consumer loans originated by successful specialty finance companies. Since 2010, our capital has contributed to the prosperity of more than 15,000 North American businesses and individuals. To learn more, visit www.merchantopportunitiesfund.com.
SOURCE Merchant Growth
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