The Boyd Group has secured a new five-year, $100 million (U.S. dollars) revolving credit facility with an accordion feature that can increase the facility to a maximum of $135 million (U.S. dollars).
“We are excited to announce this new credit facility that further enhances our financial flexibility,” says Brock Bulbuck, president and CEO of the Boyd Group. “This arrangement, combined with our strong balance sheet, positions us well to continue to execute on our growth strategy for a number of years into the future.”
The lending institutions participating in the facility include TD Bank as lead arranger, Bank of America Merrill Lynch, National Bank Financial and Scotiabank.
A portion of the new facility will be used to repay $29 million (in U.S. dollars) of existing U.S. senior term debt, according to company officials.