Accord Financial Closes Sale of US Portfolio Assets

Executive Summary

• Accord Financial Corp. completed the sale of certain U.S. loan assets from its subsidiary, generating gross proceeds of approximately $8.4 million (US$6.1 million).
• Net proceeds will be applied to reduce the company’s primary banking facility, further advancing its debt‑refinancing and non‑core asset divestiture strategy.
• Since December 2025, Accord has repaid or sold roughly $38.2 million of loan assets, substantially lowering its outstanding indebtedness.

Key Details

• Transaction: Sale of selected loans held by U.S. subsidiary Accord Financial, Inc. (AFIU).
• Gross Proceeds: ~CAD $8.4 million (US$6.1 million) – lower than originally anticipated in the LOI.
• Net Use of Proceeds: Applied to pay down the primary banking facility, supporting ongoing refinancing efforts.
• Cumulative Debt Reduction: Approximately CAD $38.2 million (US$27.8 million) repaid or sold since December 2025 through additional loan sales and repayments.
• Strategic Context: Part of a broader plan to divest non‑core assets, refinance outstanding debt, and refocus on the Canadian market.
• Related Activities: Recent extension of senior secured revolving credit facility maturity to 31 Mar 2026; earlier extension of debenture maturities to 31 Jul 2026; prior sale of BondIt Media Capital.
• Exchange Rate Used: US$1.00 = CAD$1.3735 (Bloomberg spot rate as of 13 Mar 2026, 12:00 p.m. Toronto time).

Notable Quotes

“We are pleased to finalize this deal with a growing, well‑respected asset‑based lender. Our longtime US clients are in good hands as we shift attention to our Canadian business,” – Simon Hitzig, President & CEO, Accord Financial Corp.