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

Executive Summary

• Boyd Group Services Inc. priced a C$525 million senior unsecured note offering (5.50% interest, due 2030) at par.
• Net proceeds, together with a US$780 million common share offering, will fund the purchase of Joe Hudson's Collision Center.
• Closing of the notes and equity offerings is expected around November 6 2025; acquisition closing targeted for Q4 2025.

Key Details

• Notes Offering: C$525 million principal amount, senior unsecured, 5.50% annual interest, semi‑annual payments (Nov 6 & May 6), priced at C$1,000 per C$1,000 principal.
• Underwriters/Syndicate: National Bank Capital Markets, TD Securities, RBC Capital Markets (joint active bookrunners); CIBC Capital Markets (joint passive bookrunner).
• Use of Proceeds: Combined net proceeds from the notes and the US$780 million equity offering will partially fund the acquisition of Joe Hudson's Collision Center.
• Acquisition Details: Purchase price to be funded by the financing; definitive equity purchase agreement dated Oct 29 2025; closing expected Q4 2025, subject to customary conditions.
• Redemption Clause: If acquisition does not close by 5:00 p.m. Toronto time on Apr 29 2026 (or later permitted date), or if the Purchase Agreement is terminated, notes become mandatorily redeemable at 100% principal plus accrued interest.
• Closing Timeline: Expected closing of the notes offering on or about Nov 6 2025; equity offering expected to close Nov 4 2025.
• Regulatory Notes: Notes offered privately in Canada and may be offered to qualified institutional buyers under Rule 144A in the U.S.; not registered under the U.S. Securities Act.

Notable Quotes

(No direct quotes were provided in the release.)