Company Website: https://accordfinancial.com/
TORONTO -- (Business Wire)

Accord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) announced today it has amended its senior secured revolving credit facility (the “Bank Facility”), extending the maturity date to March 31, 2026 from February 27, 2026.

Pursuant to the amendment, the total commitment is reduced from $190 million to $160 million. The amendment also incorporates milestones related to proposed asset sales, with net proceeds to be used to repay bank indebtedness.

As has been disclosed in the Company’s public filings, the Company has been working with financial advisors to pursue a broad range of strategic initiatives to repay or refinance its outstanding debt obligations, to further simplify the business and strengthen the balance sheet.

Mr. Simon Hitzig, President and Chief Executive Officer, commented, “The amendment provides time to pursue our previously announced refinancing plan, which includes the sale of the majority of loans of our U.S. subsidiary, Accord Financial, Inc. and the ultimate refinancing of the Company’s outstanding debt. Following completion of these initiatives, the Corporation will be exclusively focused on the Canadian small and medium enterprise sector.”

About Accord Financial Corp.
Accord Financial is one of North America's most dynamic commercial finance companies providing fast, versatile financing solutions including asset-based lending, factoring, inventory finance, equipment finance, and trade finance. By leveraging our unique combination of deep experience and independent thinking, we craft winning financial solutions for small and medium-sized businesses, simply delivered, so our clients can thrive.

Forward-Looking Statements
This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the financial position of the Company, and the extension of the Company’s credit facilities. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties including the fact that there is no assurance on the ability of the Company to enter into arrangements with its lenders to further extend the maturity date of its credit facilities on reasonable terms, or at all, and the Company’s overall liquidity and capital resource position and its ability to repay its debt obligations when due, and those risks identified in the Accord’s periodic filings with Canadian securities regulators. See Accord’s most recent annual information form and most recent management’s discussion and analysis of results of operations and financial condition for a detailed discussion of the risk factors affecting Accord. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260226030708/en/

Contacts:

For further information, please visit www.accordfinancial.com or contact:

Irene Eddy
Senior Vice President, Chief Financial Officer
Accord Financial Corp.
602 – 40 Eglinton Avenue East
Toronto, ON M4P 3A2
(416) 961-0304
ieddy@accordfinancial.com

Source: Accord Financial Corp.