FirstService increases revolving credit facilities to $575 million

By Angela McDaniels

Tacoma, Wash., May 6 – FirstService Corp. amended its credit agreement to increase the revolving facilities to $575 million, according to a 6-K filing with the Securities and Exchange Commission.

The total Canadian commitment is now the Canadian dollar equivalent of $465 million, including a $447.5 million Canadian revolving facility commitment, a $10 million Canadian swingline commitment and a $7.5 million Canadian sponsor commitment.

The total U.S. commitment remains $110 million, including a $90 million U.S. revolving facility commitment and a $20 million swingline commitment.

TD Securities is the lead arranger and bookrunner. Toronto-Dominion Bank is the collateral agent and Canadian administration agent. Toronto Dominion (Texas) LLC is the U.S. administration agent.

The amendment was made April 2.

Toronto-based FirstService is a property manager for residential and commercial properties.

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