Openlane Inc. Expands Canadian Receivables Purchase Agreement to C$375 Million with Key Financial Institutions
Openlane Inc., through its subsidiary Automotive Finance Canada Inc. (AFCI), has amended its existing corporate financing arrangement to enhance its financial capacity. On May 23, 2025, AFCI and Openlane Inc. entered into Amendment No. 2 of the Receivables Purchase Agreement, originally dated March 1, 2023. This amendment involved key financial players, including the Computershare Trust Company of Canada, BMO Nesbitt Burns, Inc., and the Royal Bank of Canada. As part of this amendment, the Program Limit under the agreement was increased from C$300 million to C$375 million, providing Openlane Inc. with additional financial flexibility. This development will be detailed further in the company's upcoming quarterly report for the period ending June 30, 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Openlane Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001395942-25-000038), on May 28, 2025, and is solely responsible for the information contained therein.
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