CFI Trust retires all of its ABCP
February 15, 2008
Financing reinforces quality of assets and transparent nature of the Trust
TORONTO, ON - February 15, 2008 - CFI Leasing Limited, the administrative agent of CFI Trust, today announced CFI Trust (the Trust) has repaid all of its remaining extended commercial paper through the issuance of a medium term note. As part of the issuance of this note CFI Trust’s rating was re-confirmed as AA. With this financing CFI Trust has now retired all of its asset backed commercial paper (ABCP).
“Our ability to raise the funds necessary to retire all of our ABCP is testament to the asset quality and transparent nature of the Trust” said Kevin Andrews, President and CEO of the CFI Group. “We are pleased that through this financing we can continue to ensure on-going and stable funding for the originators in the Trust and we appreciate the support of our long-term institutional investors.”
CFI Trust was created as a special purpose vehicle and issues notes backed by CFI Trust’s revolving portfolio of automotive leases and secured loans. The assets are acquired from experienced manufacturer franchised automobile dealers and independent leasing companies in Canada which have entered into an agreement with CFI Trust after being approved by a rating agency as originators to CFI Trust.
CFI Trust is not a participating member in the “Montreal Accord”. The Trust’s ability to secure this financing, acting as an independent issuer of ABCP, reinforces the asset quality of the loans and leases contained in the Trust.
This press release contains forward-looking statements, which are subject to certain risks, uncertainties and assumptions. These forward-looking statements relate to, among other things, CFI Leasing Limited’s plans, objectives, expectations, estimates, beliefs and strategies. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such factors include, among others, the risk factors set forth in CFI Trust’s Annual Information Form filed on SEDAR (http://www.sedar.com). Given these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements made herein are made as at the date of this news release, and CFI Leasing Limited assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
About CFI Group:
With over 20 years of experience and having completed $5 billion of transactions, CFI Group, through Corpfinance International Limited, CFI Capital and CFI Trust, are specialists in providing customized medium and long-term debt and equity financing solutions for private and public corporations. The Company is based in Toronto, Ontario with offices in Quebec and British Columbia.
CFI Group offers debt through Corpfinance International and equity capital solutions through its subsidiary CFI Capital, which manages the CFI Infrastructure Opportunities Fund and securitization solutions through CFI Trust. CFI Trust is a special purpose vehicle and issues notes backed by the Trust’s revolving portfolio of leases and secured loans related almost exclusively to passenger vehicles.
For more information on CFI Group, visit http://www.corpfinance.ca
For more information, please contact:
Kevin Andrews
President and CEO
CFI Group
416-673-2350
.(JavaScript must be enabled to view this email address)
or
John Burns
Senior Vice President & General Counsel
Corpfinance International Limited
416-673-2366
.(JavaScript must be enabled to view this email address)
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