Mortgage Co. of Canada secures C$600 million credit facility

By William Gullotti

Buffalo, N.Y., Feb. 25 – Mortgage Co. of Canada Inc. (MCOCI) announced it doubled the size of its available credit by securing a new C$600 million credit facility, according to a press release on Friday.

The new credit facility is co-led by Toronto-Dominion Bank, Bank of Montreal and Royal Bank of Canada. The new facility adds five new lenders to the lending syndicate, which now includes 13 financial institutions.

As of Feb. 22, the company’s mortgage portfolio was valued at C$637 million.

Toronto-based MCOCI is mortgage investment corporation that was incorporated in 2013.

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