Mattamy enters $300 million facility to refinance existing facility

By Tali Rackner

Minneapolis, June 13 – Mattamy Group Corp. entered into a new $300 million three-year senior unsecured credit facility with Bank of America, NA, according to a press release.

Proceeds were used to refinance the prior $285 million senior secured credit facility.

"The additional liquidity from our expanded facility provides us with the capacity to continue delivering on our growth initiatives," chief financial officer Bill Tofflemire said in a news release.

"We were especially pleased to establish this facility on an unsecured basis while maintaining very attractive terms to Mattamy. We appreciate the continued support of our bank partners and their confidence in our strategic plan."

Mattamy is a Burlington, Ont.-based homebuilder.

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