Key Takeaways
- Accord Financial Corp. has sold loans from its U.S. subsidiary for approximately $8.4 million to support its strategic shift back to the Canadian market.
- Proceeds will reduce bank indebtedness, which has been decreased by about $38.2 million since December 2025.
- Accord continues to explore additional asset sales to further streamline operations and strengthen its balance sheet.
Transaction Details
Accord Financial Corp. (TSX – ACD) has announced the sale of certain loans from its U.S. subsidiary, Accord Financial, Inc. (AFIU). This transaction, initiated in mid-December 2025, aligns with Accord’s strategic plan to divest non-core assets, refinance debt, and concentrate on the Canadian market.
The sale generated gross proceeds of approximately $8.4 million (US$6.1 million). After accounting for transaction-related expenses, these funds will be used to pay down the Company’s primary banking facility. Although the gross proceeds are lower than initially anticipated in the letter of intent, Accord has significantly reduced its bank debt through additional loan sales and repayments totaling around $38.2 million (US$27.8 million) since December 2025.
Accord’s President & CEO, Simon Hitzig, expressed satisfaction with the deal, emphasizing that “our longtime U.S. clients are in good hands as we shift attention to our Canadian business.” In earlier communications, the Company indicated it has engaged financial advisors to explore various strategic initiatives aimed at repaying or refinancing its outstanding debt and optimizing its business structure.
Recent developments include the extension of its senior secured revolving credit facility’s maturity to March 31, 2026, and extending the maturity for its outstanding debentures to July 31, 2026. This transaction is another strategic step following the recent sale of BondIt Media Capital.
About Accord Financial Corp.
Accord Financial is recognized as one of Canada’s leading commercial finance companies, offering a wide array of financing solutions, including asset-based lending and factoring. By leveraging deep expertise and innovative thinking, Accord is dedicated to delivering efficient financial solutions for small and medium-sized businesses across the country.
Forward-Looking Statements
This news release contains forward-looking statements as defined under Canadian securities laws. These statements include management’s beliefs and expectations regarding the financial position and future initiatives of the Company. They are based on current assumptions and are subject to various risks and uncertainties. As actual future results may vary, readers are advised not to rely excessively on any forward-looking statements.
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