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Accord Financial Extends Senior Bank Facility

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Accord Financial (ACD.TO) has extended the maturity date of its senior bank facility to Oct. 31, the company said Monday.

The amendment also includes an increase in the total commitment C$70 million from $65 million.

In addition, Accord reached an agreement with Simon Hitzig and members of his family to amend the terms for $11.0 million in unsecured demand notes and unsecured term notes outstanding.

The extension and proposed note amendments will provide the company with a solid framework to execute a refinancing of its bank facility, Accord said.

Following its exit from the US market and repayments of other non-core portfolio assets, Accord has reduced the bank facility to $52 million from $148 million as of Dec. 31, 2025, the company said.

"With Accord now refocused on the Canadian market, we're redoubling our efforts to restructure and/or refinance all the company's debt," President and Chief Executive Officer Simon Hitzig said. "The amendments provide stability while we continue to execute our financing and strategic plan."

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