Boyd Group Services Inc. Amends Revolving Credit Facilities

Rhea-AI Summary

Boyd Group Services (NYSE: BGSI) amended its credit facilities to increase revolving capacity to US$675 million with an accordion to US$1.075 billion, and kept the existing maturity of August 2030. The amendments provide more favorable pricing and greater flexibility and explicitly support the company’s planned acquisition of Joe Hudson's Collision Center.

The US$125 million Term Loan A maturing March 2027 remains unchanged. Lenders include TD, National Bank of Canada, Royal Bank of Canada, Bank of America, Scotiabank and CIBC. The company intends to partially draw the amended facilities, together with proceeds from recent share and senior unsecured notes offerings, to finance the acquisition, which remains subject to customary closing conditions and regulatory requirements.

Positive

• Revolving capacity increased to US$675 million
• Accordion option up to US$1.075 billion
• Maturity retained at August 2030
• Broad lender syndicate including TD, RBC and Bank of America
• Financing aligned to fund Joe Hudson acquisition with offerings

Negative

• Term Loan A of US$125 million still maturing March 2027
• Acquisition remains subject to closing conditions and regulatory requirements

Key Figures

Revolving facilities US$675 million Amended revolving credit facilities limit

Accordion capacity US$1.075 billion Maximum size of credit facilities with accordion feature

Term Loan A US$125 million Existing Term Loan A maturing March 2027, unchanged

Facilities maturity August 2030 Maturity date of amended credit facilities

Term Loan A maturity March 2027 Maturity date of existing Term Loan A

Market Reality Check

$165.37 Last Close

Volume Volume 11,638 is at 0.32x its 20-day average of 36,102, indicating relatively light trading. low

Technical Price at 165.37, trading above the 200-day MA of 159.2 and within the 52-week range of 148.43–173.25.

Peers on Argus

No peers in the momentum scanner and no same-day peer headlines, suggesting a stock-specific setup before this announcement.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 12	Earnings and IPO	Positive	+6.6%	Q3 beat, Joe Hudson’s acquisition plan, and U.S. IPO funding update.

Pattern Detected

Limited history, but the last major event (Q3 results, IPO, large acquisition announcement) saw a positive price reaction aligned with upbeat fundamentals.

Recent Company History

This announcement follows a strong Q3 2025 update on Nov 12, when Boyd reported $790.2M in sales, +5.0% year-over-year, and adjusted EBITDA of $98.4M. That release also highlighted a planned $1.3B acquisition of Joe Hudson’s Collision Center, a U.S. IPO raising $897M, and related note offerings, with the stock gaining 6.63% in 24 hours. Today’s facility amendment directly supports financing that same acquisition trajectory.

Market Pulse Summary

This announcement expanded Boyd’s financing flexibility by increasing revolving credit facilities to US$675 million, with an accordion up to US$1.075 billion, while keeping maturity at August 2030 and leaving the US$125 million Term Loan A intact. It directly supports closing the Joe Hudson’s Collision Center acquisition. Investors may monitor funding mix between bank debt and prior equity/notes offerings, acquisition closing progress, and integration execution against recent growth targets.

Key Terms

senior unsecured notes financial

"in combination with the proceeds from the Company's recently completed common share and senior unsecured notes offerings"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

AI-generated analysis. Not financial advice.

WINNIPEG, MB, Dec. 9, 2025 /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("BGSI", "the Boyd Group", "Boyd" or the "Company") today announced that it has amended its existing credit facilities to, among other things, (i) increase its revolving credit facilities to US$675 million, with an accordion feature which can increase the credit facilities to a maximum of US$1.075 billion (the "Facilities"), and (ii) facilitate the Company's acquisition of Joe Hudson's Collision Center (the "Acquisition"). The amendments provide more favorable pricing and flexibility while maintaining the existing maturity of August 2030. The existing US$125 million Term Loan A maturing in March 2027 remains unchanged.

The lending institutions participating in the Facilities include The Toronto-Dominion Bank, National Bank of Canada, and Royal Bank of Canada as co-lead arrangers and lenders, as well as Bank of America, The Bank of Nova Scotia and Canadian Imperial Bank of Commerce as lenders.

The Company intends to partially draw upon the amended Facilities, in combination with the proceeds from the Company's recently completed common share and senior unsecured notes offerings, to finance the Acquisition. The Acquisition continues to progress through the customary closing conditions and regulatory requirements.

About Boyd Group Services Inc.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. BGSI shares trade on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI.

About The Boyd Group Inc.

The Boyd Group Inc. ("Boyd") is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. Boyd operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive as well as in the U.S. under the trade name Gerber Collision & Glass. In addition, Boyd is a major retail auto glass operator in the U.S. with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. Boyd also operates a third-party administrator, Gerber National Claims Services, that offers glass, emergency roadside and first notice of loss services. Boyd also operates a Mobile Auto Solutions ("MAS") service that offers scanning and calibration services.

Caution concerning forward-looking information

Statements made in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking information"). Forward-looking information can be generally identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "should", "believe" or the negatives thereof and similar variations. Specifically, forward-looking information in this press release includes, but is not limited to, statements regarding the financing and completion of the Acquisition, including the timing thereof. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results or events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risks and uncertainties detailed under the "Business Risks and Uncertainties" section of the Company's current annual information form, the "Business Risks and Uncertainties" and other sections of the Company's management's discussion and analysis of operating results and financial position and in the Company's other periodic filings with the Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. All forward-looking information presented herein should be considered in conjunction with such filings. Although the Company believes the expectations reflected in such forward-looking information and the assumptions upon which it is based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking information, and it should not be unduly relied upon.  There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking information contained in this press release describes the expectations of the Company as of the date of this press release.  Except as required by law, the Company does not undertake to update or revise any forward-looking information contained herein, whether as a result of new information, future events or for any other reason. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement.

View original content:https://www.prnewswire.com/news-releases/boyd-group-services-inc-amends-revolving-credit-facilities-302637291.html

SOURCE Boyd Group Services Inc.

FAQ

What change did Boyd Group (BGSI) make to its revolving credit facilities on December 9, 2025?

Boyd increased revolving capacity to US$675 million with an accordion to US$1.075 billion and kept the maturity at August 2030.

How will BGSI finance the Joe Hudson's Collision Center acquisition?

BGSI plans to partially draw the amended facilities and use proceeds from recent common share and senior unsecured notes offerings to finance the acquisition.

Which banks are lenders on BGSI's amended credit facilities?

Lenders include TD, National Bank of Canada, Royal Bank of Canada as co-leads, plus Bank of America, Scotiabank and CIBC.

Does Boyd Group have any unchanged debt obligations after the amendment?

Yes, the existing US$125 million Term Loan A maturing in March 2027 remains unchanged.

When does BGSI's amended facility mature and can it be increased later?

The facilities maintain a August 2030 maturity and include an accordion feature to increase capacity to US$1.075 billion.