FirstService increases credit facility to $1 billion, extends to 2027

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – FirstService Corp. expanded its credit facility to $1 billion and extended its maturity to a new five-year term ending in February 2027, according to a news release.

The company has the right to increase the revolver by up to $250 million. The facility will be used to repay the remaining term loan balance of $407 million and will continue to be used for working capital and general corporate purposes and to fund FirstService’s tuck-under acquisition program.

The increased credit facility was led by Toronto-Dominion Bank.

Toronto-based FirstService is a property manager for residential and commercial properties. Global Restoration is a Fort Worth-based commercial and large loss property restoration firm.

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