Accord Announces Amendment to its Banking Facility

TORONTO--(BUSINESS WIRE)--Accord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today announced it has amended its senior secured revolving credit facility (the “Bank Facility”), extending the maturity date to February 27, 2026. This amendment follows a recent short-term extension announced on December 15, 2025.

Pursuant to the amendment, the total commitment under the Bank Facility will be reduced from $205 million to $190 million. The amendment also incorporates milestones related to proposed asset sales, with net proceeds to be used to repay bank indebtedness.

As has been disclosed in the Corporation’s public filings, the Corporation has been working with financial advisors to pursue a broad range of strategic initiatives to repay or refinance its outstanding debt obligations, to further simplify the business and strengthen the balance sheet.

Mr. Simon Hitzig, President and Chief Executive Officer, commented, “The amendment provides time to pursue our previously announced refinancing plan, which includes the sale of a majority of the loans of Accord Financial, Inc., the extension of the Company’s unsecured subordinated debentures (the “Debentures”), and the ultimate refinancing of the Corporation’s outstanding debt.” Mr. Hitzig added, “Following completion of these initiatives, the Corporation will be exclusively focused on the Canadian small and medium enterprise sector, where it has been a market leader since 1978.”

About Accord Financial Corp.
Accord Financial is one of North America's most dynamic commercial finance companies providing fast, versatile financing solutions for including asset-based lending, factoring, inventory finance, equipment finance (Canada), trade finance and film/media finance. By leveraging our unique combination of deep experience and independent thinking, we craft winning financial solutions for small and medium-sized businesses, simply delivered, so our clients can thrive.

For further information, please visit www.accordfinancial.com.

Forward-Looking Statements
This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the financial position of the Company and the ability of the Company to repay or refinance its outstanding debt obligations. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties including, but not limited to the risk that the Debenture Amendments will not be successfully completed for any reason, risks applicable to any debt instrument including that the Corporation may not be able to pay the interest and/or repay the principal amount outstanding under the Debentures when due, risks that the Corporation’s refinancing plan may not be achievable on acceptable terms or at all, and risks that the Corporation or Debentureholders may not realize the anticipated benefits of the Debenture Amendments including ultimate repayment of the Debentures even if the Debenture Amendments are implemented. If any or all of the Company’s outstanding debt obligations are not renewed or replaced upon expiration of their terms, and if the Company is unsuccessful in its ability to generate additional capital from sales of portfolio assets and/or business units and additional alternative financing arrangements to repay same on terms acceptable to the Company, or at all, the Company may not be able to continue to finance its operations and operate as a going concern. See Accord’s most recent annual information form and most recent management’s discussion and analysis of results of operations and financial condition for a detailed discussion of the risk factors affecting Accord. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.