TD Bank Arranges $100MM Boyd Group Facility
Boyd Group Income Fund announced that its operating company, The Boyd Group, secured a five-year, $100 million revolving credit facility with an accordion feature that can increase the facility to a maximum of $135 million.
Participating lending institutions included 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 of existing U.S. senior term debt.
“We are excited to announce this new credit facility that further enhances our financial flexibility,” stated 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.”