WINTRUST FINANCIAL CORPORATION (NASDAQ:WTFC) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement.
On December 15, 2017, an indirect subsidiary of Wintrust Financial Corporation (“Wintrust”), First Insurance Funding of Canada Inc. (“First Canada) entered into the Third Amending Agreement, dated as of December 15, 2017 (the “Amendment”) to the Receivables Purchase Agreement dated as of December 16, 2014 (as amended, the “Receivables Purchase Agreement”) by and between First Canada and CIBC Mellon Trust Company, in its capacity as trustee of Plaza Trust (“Plaza Trust”), by its financial services agent, Royal Bank of Canada.
to the Amendment, the commitment maturity date of the Receivables Purchase Agreement has been extended to December 16, 2019 and the facility limited has been increased from $160 million to $170 million. In addition, the Amendment includes technical and ministerial changes.
Additionally, to a Performance Guarantee dated as of December 16, 2014, and confirmed as of December 15, 2017, made by Wintrust in favor of Plaza Trust, Wintrust guarantees the performance of First Canada of its obligations under the Receivables Purchase Agreement (“Third Amendment of Performance Guarantee”) and any subsequent amendments thereto.
The foregoing descriptions of the Amendment and Third Amendment of Performance Guarantee are qualified in their entirety by the full text of such agreements, which are attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
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Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided in Item 1.01 is incorporated by reference herein.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
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ExhibitNo. |
Description |
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10.1 |
Third Amending Agreement, dated as of December 15, 2017, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of Plaza Trust, by its Financial Service Agent, Royal Bank of Canada. |
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10.2 |
Performance Guarantee Confirmation made as of December 15, 2017 by Wintrust Financial Corporation in favor of CIBC Mellon Trust Company, Plaza Trust. |
EXHIBIT INDEX
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Exhibit No. |
Description |
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Third Amending Agreement, dated as of December 15, 2017, by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of Plaza Trust, by its Financial Service Agent, Royal Bank of Canada. |
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Performance Guarantee Confirmation made as of December 15, 2017 by Wintrust Financial Corporation in favor of CIBC Mellon Trust Company, Plaza Trust. |
WINTRUST FINANCIAL CORP ExhibitEX-10.1 2 exhibit101.htm EXHIBIT 10.1 THIRD AMENDING AGREEMENT Exhibit EXHIBIT 10.1THIRD AMENDING AGREEMENT (First Insurance Funding of Canada Inc.)This Third Amending Agreement made as of December 15,…To view the full exhibit click here
About WINTRUST FINANCIAL CORPORATION (NASDAQ:WTFC)
Wintrust Financial Corporation is a financial holding company. The Company conducts its businesses through three segments: community banking, specialty finance and wealth management. The Company provides community-oriented, personal and commercial banking services to customers located in the Chicago metropolitan area and in southeastern Wisconsin through its banking subsidiaries (the banks). Its subsidiary, First Insurance Funding Corporation (FIFC), is engaged in the premium finance receivables business, including commercial insurance premium finance and life insurance premium finance. It is also engaged in commercial insurance premium finance in Canada through its subsidiary, First Insurance Funding of Canada (FIFC Canada). The Company provides wealth management services to customers in its market area through its subsidiaries, The Chicago Trust Company, N.A. (CTC), Wayne Hummer Investments, LLC (WHI) and Great Lakes Advisors, LLC (Great Lakes Advisors).