Boyd Group Services Inc. Amends Revolving Credit Facilities

Executive Summary

• Boyd Group Services Inc. amended its revolving credit facilities, increasing the primary facility to US$675 million with an accordion feature that can expand capacity to up to US$1.075 billion.
• The amendment provides more favorable pricing and flexibility while retaining the existing maturity of August 2030.
• Proceeds from the amended facilities, together with recently issued common shares and senior unsecured notes, will be used to finance the acquisition of Joe Hudson's Collision Center.

Key Details

• Facility Increase: Revolving credit facility raised from its prior amount to US$675 million.
• Accordion Feature: Allows the facility to be expanded in increments up to a maximum aggregate commitment of US$1.075 billion.
• Maturity: Existing maturity date unchanged – August 2030.
• Term Loan A: The existing US$125 million Term Loan A, maturing March 2027, remains unaffected.
• Lenders/Co‑Lead Arrangers: Toronto‑Dominion Bank, National Bank of Canada, Royal Bank of Canada (co‑lead arrangers); additional lenders include Bank of America, The Bank of Nova Scotia, and Canadian Imperial Bank of Commerce.
• Use of Proceeds: Partial drawdown of the amended facilities combined with proceeds from a recent common share offering and senior unsecured notes issuance to fund the acquisition of Joe Hudson's Collision Center.
• Acquisition Status: Acquisition is progressing under customary closing conditions and regulatory approvals.

Notable Quotes

(No direct quotes were provided in the release.)