Boyd Group Services Inc. Announces Closing of C$525 Million Senior Unsecured Note Offering

Executive Summary

• Boyd Group Services Inc. closed a C$525 million senior unsecured note private placement (Notes due 2030) and a US$897 million common share offering.
• Net proceeds will be used, together with equity proceeds, to fund the purchase price for the acquisition of Joe Hudson's Collision Center, expected to close in Q4 2025.
• The Notes include a mandatory redemption clause triggered if the acquisition does not close by April 29 2026 or is terminated.

Key Details

• Offering Size: C$525 million principal amount of senior unsecured notes due 2030.
• Equity Offering: US$897 million common shares closed on November 4 2025.
• Use of Proceeds: Combined net proceeds will partially fund the acquisition of Joe Hudson's Collision Center (automotive collision repair services).
• Acquisition Timing: Expected closing in Q4 2025, subject to customary conditions and regulatory approvals.
• Redemption Trigger: If acquisition not completed by 5:00 p.m. Toronto time on April 29 2026 (or later permitted date), or if the Purchase Agreement is terminated, the Notes become subject to mandatory redemption at 100% principal plus accrued interest.
• Underwriters / Bookrunners: National Bank Capital Markets, TD Securities, RBC Capital Markets (joint active bookrunners); CIBC Capital Markets (joint passive bookrunner).
• Placement Structure: Private placement to qualified institutional buyers in Canada; offered under Rule 144A in the U.S. (not registered under U.S. securities laws).
• Bridge Facility: Existing bridge facility commitments will be cancelled and replaced with net proceeds from both the note and equity offerings.

Notable Quotes

(No direct quotes were provided in the release.)