Atrium Mortgage Investment Corporation completes C$40.25M public offering of convertible unsecured subordinated debentures
On March 18, 2022, Atrium Mortgage Investment Corporation completed a public offering of C$35 million aggregate principal amount of 5.10% convertible unsecured subordinated debentures due March 31, 2029. Atrium will use the net proceeds of the offering to repay existing indebtedness under its revolving credit facility, which will then be available for funding future mortgage loan opportunities.
The underwriter exercised, in full, their over-allotment option resulting in the issue of an additional C$5.25 million aggregate principal amount of debentures on March 23, 2022.
Atrium Mortgage Investment Corporation, headquartered in Toronto, Ontario, is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high.
TD Securities Inc., also based in Toronto, Ontario, is an investment bank and financial services provider that offers advisory and capital market services to its clients.
McCarthy Tétrault LLP advised TD Securities Inc. with a team led by Andrew Parker that included Michael Eldridge, Victoria Zed (Business) Raj Juneja, and Kathryn Walker (Tax).
