22nd Nov 2019 12:28
(Alliance News) - Marble Point Loan Financing Ltd on Thursday said it has signed a credit agreement with City National Bank, to establish a revolving credit facility for up to USD12.5 million.
City National Bank is a subsidiary of Toronto-based Royal Bank of Canada.
The facility will provide the investment firm with flexible capital for making new investments in line with its objective, as well as general corporate purposes.
"We are pleased that the company has entered into the revolving credit facility and believe it is beneficial to shareholders in that this facility will enable the company to make further investments and continue to seek attractive risk-adjusted returns for its shareholders," said Thomas Shandell, CEO of investment manager Marble Point Credit Management LLC.
Shares in Marble Point Loan Financing - which is based in Guernsey - were untraded on Friday, last quoted at 0.77 pence in London.
By Dayo Laniyan; [email protected]
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