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TORONTO, Oct. 20, 2022 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan”, “our”, “us” or “company”) is a Lind Bridge Mount A limited partnership in which Logan is the sole limited partner and a wholly-owned subsidiary of Mount Logan is the sole general partner (“Lind Bridge”), a limited partnership (the “Lind Bridge”) will issue a timed promissory note (the “Note”) against gross revenues. issued. US$7,500,000 to Lind Bridge (“Loan Amount”).
Pursuant to the Notes, Lind Bridge has agreed to borrow the Loan Amount and pay the Lenders interest on the unpaid principal amount of the Notes including PIK Interest (defined below) (“Principal Amount”) at an annual rate. Represents 7.5% before and after claim, maturity, default and/or judgment until full and final repayment of the principal amount. Interest shall be due on January 3, 2023 (“PIK Interest”) and on October 20, 2029 (“Maturity Date”), along with any outstanding principal amount. Mount Logan guarantees Lind Bridge’s obligations under the Note.
Lind Bridge intends to donate the loan proceeds to its wholly owned subsidiary, Ability Insurance Company (“Ability”). This amount will be used to support the reinsurance of additional annuities to expand Ability’s assets under management and further diversify its business. of competence away from the long-term care business.
About Mount Logan Capital
Mount Logan Capital Inc. is an alternative asset management firm focused on investing in public and private bonds in the North American market. We actively source, evaluate, underwrite, manage and monitor, primarily loans, bonds and other credit-oriented products that offer attractive risk-adjusted returns and have a low risk of principal impairment throughout the credit cycle. are investing in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements may be expressed using words such as “seeks,” “expects,” “believes,” “estimates,” “will,” “may,” “intends,” “targets,” and similar expressions. can be identified. Forward-looking statements are not historical facts, but reflect our current expectations of future results or events and are based on currently available information. Certain important factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this release involve Lind Bridge and Ability’s planned use of the proceeds of the Notes and the resulting growth of Ability’s assets under management and our business strategies, models and approaches. and future activities. All forward-looking statements contained in this press release are qualified by these cautionary statements. We believe that the expectations reflected in forward-looking statements are based on reasonable assumptions. However, we cannot give any guarantee that actual results or developments will be realized by any particular date or that they will be realized at all. These forward-looking statements, including those discussed in the “Risk Factors” section of our recently filed Annual Information Form and management’s discussion and analysis, could cause actual results or events to differ materially from current expectations. subject to a number of risks and uncertainties that may for the company. Accordingly, readers should not place undue reliance on such forward-looking statements. In addition, forward-looking statements speak only as of the date such statements are made. We undertake no obligation to publicly update such statements or to reflect new information or the occurrence of future events or circumstances, except as required by securities laws. These forward-looking statements are made as of the date of this press release.
This press release is not a prospectus or advertisement and should not be construed as such under any circumstances. purchase securities of the Company or any fund or other investment vehicle; This press release is not intended for US persons. Our stock is not and will not be registered under the United States Securities Act of 1933, as amended. Nor is the company registered under the Securities Act of 1940. US persons may not purchase our stock without an exemption from registration under each of these laws. In addition, the number of U.S. investors, or investors who are U.S. persons or purchase for the account or interest of U.S. persons, is the number required to comply with any available exemption from the registration requirements of 1940. is limited to activity.
For more information, please contact:
Jason Ruth
CFO
Jason.Roos@mountlogancapital.ca
Mount Logan Capital Co., Ltd.
365 Bay Street, Suite 800
Toronto, Ontario M5H 2V1
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