MMV Financial Inc. today announced that it has secured an additional $25 million of financing under its existing revolving senior credit facility to be contributed by ROI Capital Inc. thereby increasing the total facility to USD $100 million.
The senior revolving credit facility is administered by Wells Fargo Foothill and includes a syndicate of U.S. and Canadian banks.
“We are extremely happy to have secured this additional financing considering the current market conditions for financial services companies” stated Minhas Mohamed, CEO of MMV Financial “which is a direct recognition of our business model and single focused approach to our business” added Mr. Mohamed.
Over its 10 year history, MMV Financial has invested in excess of $500 million in over 125 companies across the North American footprint.
“We see the investment in MMV Financial as a key component of our investment strategy to invest in private-placement lending with above average returns and lower overall risk as a result of the diverse portfolio of private lending held by MMV Financial” added John Sterling, CEO ROI Capital.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company with offices in Toronto, Montreal and New York providing creative debt solutions directly to technology, life sciences and renewable energies companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de Dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Québec, HSBC Canada, NewStar Financial Inc., ROI Capital and Wells Fargo Company.
For further information, please visit the MMV Financial website at www.mmvf.com or contact:
Michel Beland, COO and CFO (416) 977 9718 x228
E-mail: mbeland@mmvf.com
About ROI Capital Ltd.
ROI Capital specializes in private-placement lending. Private placement loans are made to established companies who pay back principal and interest. This form of investment is uncorrelated to the public markets, and can be found within all of ROI Capital's Family of Funds: ROI Fund, ROI Canadian Retirement Fund, ROI Global Retirement Fund, ROI Sceptre Retirement Growth Fund, the ROI Private Placement Fund and the ROI High Yield Private Placement Fund. ROI Capital is the first company to bring this strong investment combination to the retail market. ROI has also partnered with three leading institutional managers: Sceptre Investment Counsel, Wentworth, Hauser, & Violich and Johnston Asset Management. By combining private and public investments, ROI Capital is able to offer investors more diversification than exists with typical mutual funds.
For further information please visit the ROI Capital website at http://www.roicapital.ca/, or contact:
Jasmina Jhooti, Director of Operations at (416) 361-6162