08:54 AM EDT, 05/28/2024 (MT Newswires) -- Timbercreek Financial ( TBCRF ) on Tuesday said it completed its $40 million bought deal offering of 7.5% convertible unsecured subordinated debentures due June 30, 2029. The underwriters fully exercised the over-allotment option to purchase an additional $6 million of debentures, resulting in a total of $46 million of debentures being issued.

Proceeds will be used to repay Timbercreek's secured revolving credit facility, and for general corporate purposes.