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Terra Firma Capital closes US$40M credit line

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Terra Firma Capital closes US$40M credit line

Terra Firma Capital Corp. closed a US$40 million secured corporate line of credit with Texas Capital Bank.

The line of credit can be increased to US$50 million over time, subject to the approval of Texas Capital Bank. Terra Firma Capital will use the line of credit to fund new investments, which will be ultimately held or warehoused for later syndication, and to fund general corporate working capital requirements.

The credit line replaces the previous corporate credit facility Terra Firma Capital had with a Canadian financial institution, which was fully repaid in the fourth quarter of 2019.