Firstservice increases debt funding capacity and flexibility with existing senior unsecured noteholders

Toronto, sept. 29, 2022 (globe newswire) -- firstservice corporation (tsx: fsv; nasdaq: fsv) ("firstservice") announced today that it has entered into two new revolving, uncommitted financing facilities (the “facilities”) for potential future private placement issuances of senior unsecured notes (“notes”) aggregating us$450 million with its existing lenders, nyl investors llc (“new york life”) of up to us$150 million and pgim private capital, the direct private debt and structured equity investment affiliate of pgim, inc. (“prudential”), of up to us$300 million, in each case, net of any existing notes held by them. the facilities each have a three-year term ending september 29, 2025. firstservice has the ability to issue incremental note tranches under the facilities, subject to acceptance by new york life or prudential, with varying maturities as determined by firstservice, and with coupon pricing determined at the time of each note issuance.
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