Builders Capital Set for First Tranche of Bond Offering

Builders Capital Mortgage (TSE:BCF) has released an update.

Builders Capital Mortgage Corp. has announced the first tranche of its $50 million bond offering is expected to close on October 1, 2024, to bolster its residential construction mortgage lending in Alberta and British Columbia. The offering will include participation from related parties, including a significant $7 million investment from a company controlled by Builders Capital’s CEO, without adding leverage risk to existing shareholders.

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