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AUTOCANADA ANNOUNCES CREDIT FACILITY CHANGE
AUTOCANADA ANNOUNCES CREDIT FACILITY CHANGE Canada NewsWire EDM...
About this update from Autocanada Inc.
[{"type":"text","content":"\n\n\n\n AUTOCANADA ANNOUNCES CREDIT FACILITY CHANGE\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n EDMONTON, AB\n \n\n ,\n \n\n March 31, 2025\n \n\n /CNW/ - AutoCanada Inc. (\"AutoCanada\" or the \"Company\") (TSX: ACQ) a leader in Canadian automotive retail, today announced that its lenders under the Company's syndicated credit facility have agreed to increase to the Company's maximum permitted Total Net Funded Debt to EBITDA ratio from 5.50:1.00 to 6.00:1.00 for the period from\n \n April 1, 2025\n \n to\n \n June 30, 2025\n \n . On\n \n July 1, 2025\n \n , the Company's maximum permitted Total Net Funded Debt to EBITDA Ratio will decrease to 4.50:1.00.\n \n\n This is a precautionary measure taken by the Company and the lenders given the ongoing tariff environment and the unknown impact it may have on the financial results of the Company.\n \n\n\n About\n \n\n AutoCanada\n \n\n\n AutoCanada's Canadian Operations segment currently operates 64 franchised dealerships in\n \n Canada\n \n , comprised of 25 brands, in 8 provinces. AutoCanada currently sells Acura, Alfa Romeo, Audi, BMW,\n \n Buick\n \n , Cadillac, Chevrolet, Chrysler, Dodge, FIAT, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen branded vehicles. In addition, AutoCanada's Canadian Operations segment currently operates 4 Used Digital Division dealerships (\"Used Vehicle Operations\") and 12 stand-alone collision centres within our group of 29 collision centres (\"Collision Centres\"). In 2024, our Canadian dealerships sold approximately 85,000 new and used retail vehicles. In addition, our Collision Centres offer an opportunity for the Company to retain customers at every touchpoint within the automotive ecosystem.\n \n\n AutoCanada's U.S. Operations segment, operating as Leader Automotive Group (\"Leader\"), currently operates 17 franchised dealerships comprised of 15 brands, in\n \n Illinois, USA\n \n . Leader currently sells Audi, Chevrolet, Chrysler, Dodge, Honda, Hyundai, Jee...