Ritchie Bros. closes $630 million facility amendment, extension

By Taylor Fox

New York, Aug. 17 – Ritchie Bros. Auctioneers Inc. has closed an amendment and extension of its credit agreement totaling $630 million with a syndicate of lenders, according to a news release.

The facilities include multicurrency revolving facilities of up to $530 million and a delayed-draw term loan facility of up to $100 million.

The maturity date of the facilities has been extended to Oct. 27, 2023 from Oct. 27, 2021.

The delayed-draw facility will continue to amortize in equal quarterly installments in an annual amount of 10%, with the balance payable at maturity.

The facilities are secured by the assets of Ritchie Bros. and some of its subsidiaries.

Bank of America, NA and RBC Capital Markets are joint lead arrangers and joint bookrunners.

Bank of America, NA is administrative agent, and the Royal Bank of Canada is the syndication agent.

Ritchie Bros. is a Vancouver, B.C.-based industrial auctioneer and equipment distributor.

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