ECN Capital greenshoe ups 6% five-year debentures to C$86.25 million

By Rebecca Melvin

Concord, N.H., Nov. 5 – Underwriters for ECN Capital Corp.’s 6% senior unsecured debentures due Dec. 31, 2026 fully exercised their C$11.25 million greenshoe, increasing the total size of the deal to C$86.25 million, according to a press release on Friday

The company announced it closed C$75 million principal amount of the debentures on Oct. 28.

The underwriters were co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and RBC Capital Markets including TD Securities Inc., Raymond James Ltd., Cormark Securities Inc. and Stifel GMP.

As previously announced, ECN intends to use proceeds to redeem or repay outstanding securities and/or debt and for general corporate purposes.

The debentures trade on the Toronto Stock Exchange under the symbol “ECN.DB.A.”

Headquartered in Toronto and West Palm Beach, ECN Capital originates, manages, and advises on credit assets for North American based banks, credit unions, life insurance companies, pension funds and investment funds.

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