Ritchie Bros. closes $1.05 billion facility amendment, extension

By Wendy Van Sickle

Columbus, Ohio, Sept. 21 – Ritchie Bros. Auctioneers Inc. has closed an amendment and extension of its credit agreement totaling $1,045,000,000 with a syndicate of lenders, according to a news release.

The facilities include multicurrency revolving facilities of up to $750 million and a delayed-draw term loan facility of up to $295 million.

The maturity date of the facilities has been extended to Sept. 21, 2026 from Oct. 27, 2023.

The delayed-draw facility will continue to amortize in equal quarterly installments in an annual amount of 5%, with the balance payable at maturity.

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

BofA Securities, Inc. 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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