This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Atrium Mortgage Investment Corporation Announces New Revolving Operating Credit Facility

TORONTO, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) ("Atrium") announced today that it has successfully entered into a new revolving operating credit facility, increasing the maximum availability to $50 million, from $40 million previously, increasing to $75 million by way of a bulge facility during the period commencing on September 25, 2012 and ending six months thereafter.

The revolving operating credit facility matures on August 31, 2013, except for amounts borrowed under the bulge facility, which mature six months after September 25, 2012. Advances under the revolving operating credit facility are subject to certain conditions of drawdown, and may be made by way of Canadian prime rate loans, bankers' acceptances or letters of credit. The amount which may be drawn under the revolving operating credit facility is limited to the lesser of: (i) $50 million (subject to increase to $75 million when the bulge facility is available); (ii) 45% (or 50% when the bulge facility is available) of Atrium's shareholders' equity; and (iii) 50% of the value of qualified first mortgages. The maximum available by way of letters of credit is $2 million.

Mr. Robert Goodall, President and CEO, stated, "The increase in our revolving credit facility positions Atrium to build shareholder value by continuing our focused program of investing in quality mortgages."

About Atrium

As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial real estate finance. Atrium lends in major urban centres in Canada where the stability and liquidity of real estate are at the highest levels. Canadian Mortgage Capital Corporation ("CMCC") is responsible for originating, underwriting, servicing and syndicating Atrium's mortgage loans. CMCC has been Atrium's exclusive manager since Atrium's formation and has grown Atrium's business to a mortgage portfolio of approximately $180 million. CMCC has been in the business of originating and underwriting mortgage loans for over 19 years and servicing mortgage loans for over 13 years.
CONTACT: Atrium Mortgage Investment Corporation
         Robert G. Goodall
         President and Chief Executive Officer
         (416) 607-4200

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs