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MMA Capital Holdings board OKs buyback plan

MMA Capital Holdings Inc.'s board has authorized a buyback plan of up to 100,000 common shares.

The plan will include block trade purchases of up to 10,000 shares in any given week and will expire at the earlier of the close of trading Dec. 31 or the purchase of 100,000 shares.

Also, MMA Energy Holdings LLC entered into a secured $125 million revolving credit facility, of which $70 million has been committed and $30 million has been advanced as of the initial closing. The facility can be further expanded by $50 million.

Proceeds from the facility can be used for existing and additional investments in debt associated with renewable energy and reasonable operating expenses of MMA Energy.

Brean Capital LLC was the adviser and placement agent for the facility.