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Boyd Group Income Fund Significantly Enhances Credit Facility
Boyd Group Income Fund Significantly Enhances Credit Facility Canada NewsWire WI...
About this update from Boyd Group Services Inc
[{"type":"text","content":"\n\n\n\nBoyd Group Income Fund Significantly Enhances Credit Facility\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, May 29, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nExpandable to US$450 million  \n\n\n\nWINNIPEG, May 29, 2017 /CNW/ - Boyd Group Income Fund (TSX: BYD.UN) (\"the Fund\", \"the Boyd Group\" or \"Boyd\") today announced that after market close on May 26 it increased its existing revolving credit facility to US$300 million, with an accordion feature which can increase the facility to a maximum of US$450 million on terms that allow the Fund greater financial flexibility (\"the Facility\"). The Facility will mature in May 2022.\n\n\"We continue to see many attractive opportunities in the market to make accretive acquisitions and execute on our growth strategy,\" said Pat Pathipati, Executive Vice President and Chief Financial Officer of the Boyd Group. \"This expanded facility, along with flexible covenants and an extended maturity, positions us well to take advantage of those opportunities.\" \n\nThe lending institutions participating in the Facility continue to include TD Bank as lead arranger, Bank of America, National Bank of Canada and Scotiabank. \n\nAbout The Boyd Group Income Fund\n\nThe Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries. The Boyd Group Income Fund units trade on the Toronto Stock Exchange (TSX) under the symbol BYD.UN.  For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our website at http://www.boydgroup.com.\n\nAbout The Boyd Group Inc.\n\nThe Boyd Group Inc. (the \"Company\"), directly and through subsidiaries, is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. The Company operates locations in five Canadian prov...