Transactions October 31, 2024

Extend Financial Completed a $366 Million Mortgage Receivables Financing Transaction

Extend Financial, an innovative tech-driven mortgage lender operating in Canada, closed a $305 million mortgage receivables financing transaction with a US private investment firm in November 2024. The transaction consists of the following credit facilities: (i) a $155 million term loan facility, (ii) a $150 million delayed draw term loan facility and (iii) a $61 million last-out loan facility funded by the founders.

 

Wildeboer Dellelce LLP acted as counsel to the borrower in connection with the transaction with a team consisting of Perry Dellelce, Rachel Manno, Krystle Formhals, Jason Kim (Debt Products) and Mariam Al-Shikarchy (Tax).

 

Wildeboer Dellelce LLP