FirstCash expands revolver to $590 million, extends maturity to 2027

By Marisa Wong

Los Angeles, Aug. 31 – FirstCash Holdings, Inc. entered into a sixth amendment on Aug. 30 to its existing amended and restated credit agreement to increase total commitments under the revolver to $590 million from $500 million and extend the maturity to Aug. 30, 2027 from Dec. 19, 2024, according to an 8-K filing with the Securities and Exchange Commission.

FirstCash also amended the revolver to modify the benchmark interest rate. Borrowings now bear interest at SOFR plus a fixed spread of 250 basis points and a fixed adjustment of 10 bps.

In addition, some financial covenants were favorably amended to permit increased consolidated leverage through the end of 2024 and to eliminate the existing domestic leverage ratio covenant, according to a press release.

The facility is provided by a group of 11 commercial banks, which includes three new participating banks effective with the amendment and extension.

Wholly owned subsidiary FirstCash, Inc. is borrower under the credit facility.

Based in Fort Worth, FirstCash is an operator of pawn stores and a provider of technology-driven point-of-sale payment solutions.

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