Firstservice increases credit facility to us$1.0 billion

Toronto, feb. 17, 2022 (globe newswire) -- firstservice corporation (tsx: fsv; nasdaq: fsv) ("firstservice") announced today that it has expanded and extended its revolving credit facility (the “facility”), on an unsecured basis, for a new five-year term maturing in february 2027. under the amended facility, borrowing capacity has been increased to us$1.0 billion and, at any time during the term, firstservice also has the right to increase the facility by up to us$250 million on the same terms and conditions as the original facility. the facility will be used to repay the remaining term loan balance of us$407 million under the prior credit facility, and will also continue to be utilized for working capital and general corporate purposes and to fund future tuck-under acquisitions.
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