trending Market Intelligence /marketintelligence/en/news-insights/trending/a1rk4s6fq6nqyskrst_alg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Brookfield Real Estate Services increases debt facilities to C$80M

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Real Estate News & Analysis: April Edition

Blog

COVID-19 Impact & Recovery: Investment Banking

Blog

COVID-19 Impact & Recovery: Academia


Brookfield Real Estate Services increases debt facilities to C$80M

Brookfield Real Estate Services Inc., which provides services to residential real estate brokers, increased the maximum borrowings under its debt facilities to C$80 million, from C$78 million, and extended the maturity date, among other amendments.

The amendments are effective from Jan. 1, 2019.

The facilities now mature Dec. 31, 2023. The EBITDA to interest coverage ratio was reduced to 3x, from 5x. The company's permitted level of borrowing was also increased to 4x EBITDA, from 2.5x EBITDA, and it is required to make limited principal repayments under the facilities when borrowings exceed 3.4x EBITDA.

The debt facilities were arranged with the Canadian Imperial Bank of Commerce.