DLC confirms TSX milestone

The network has made significant strides in the national market over the past few months

DLC confirms TSX milestone

Dominion Lending Centres has received final approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange, and list its class “A” common shares on the TSX.

These shares will begin trading on the TSX under their existing ticker symbol “DLCG” at the market open today.

“Shareholders will not be required to take any action in connection with the graduation and listing on the TSX,” DLC said.

Read more: DLC announces final results of its substantial issuer bid

The network has made significant strides in the national market over the past few months.

In late December, DLC closed its new credit facilities – three senior term credit facilities and a junior term credit facility – with Toronto-Dominion Bank.

The senior credit facilities provided DLC with a $5 million revolving working capital credit line, a $10 million revolving acquisition credit line, and a $20 million term loan. Meanwhile, the junior credit facility provided DLC with a $32 million term loan “to facilitate the repayment of all indebtedness of the corporation under the current Sagard credit facility and to terminate all existing foreign currency forward contracts,” the lender said.

“We are pleased to announce the closing of the TD financing, the full repayment of the Sagard (USD) credit facility and closure of our foreign exchange forward contracts,” DLC’s Gary Mauris said at the time. “Replacing our high-yield debt with conventional bank financing is another step to further simplify our business.”

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