Economics
Canada Offers Bridge Loans to Big Firms in Widening Rescue
- Funds available to firms with revenue exceeding C$300 million
- Limits will be set on executive pay, dividends, share buybacks
Bill Morneau.
Photographer: David Kawai/BloombergThis article is for subscribers only.
Canada unveiled a loan program for large firms that have been hit by Covid-19 and can’t get financing by conventional means.
The Large Employer Emergency Financing Facility is for companies and non-profit organizations with annual revenue of C$300 million ($214 million) or more.