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Boyd Group Prices $275 Million Senior Unsecured Note Offering and Amends and Extends Existing Revolving Credit Facilities

BY MT Newswires | CORPORATE | 08/21/25 07:35 AM EDT

07:35 AM EDT, 08/21/2025 (MT Newswires) -- Boyd Group Services (BYDGF) , one of the largest operators of non-franchised collision repair centres in North America, overnight Wednesday said it entered into an underwriting agreement to sell C$275 million of senior unsecured notes due 2033.

The company said it agreed to sell these notes, pursuant to a private placement offering, at $1,000 per $1,000 principal amount of notes, with an interest rate of 5.75% per annum, payable semi-annually in arrears on March 4 and September 4, commencing on March 4, 2026. Proceeds are intended to be used to repay existing indebtedness.

The offering is expected to close on or about September 4, 2025.

It also increased and extended its existing revolving credit facilities to US$575 million for a five-year term, with an accordion feature which can increase the credit facilities to a maximum of US$875 million. Boyd Group said the facilities will provide "more favorable pricing" and mature in August 2030. The existing US$125 million Term Loan A maturing in March 2027 remains unchanged.

"The new Notes, along with the amended credit facilities, increase our financial flexibility," said Jeff Murray, Executive VP and Chief Financial Officer. "These financing arrangements will enable us to continue executing our latest five-year goal, designed to drive growth and enhance profitability through 2029."

Shares of the company closed up near 0.2% to $220.43 on Wednesday on the Toronto Stock Exchange.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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