FirstCash upsizes revolver to $425 million, extends to 2023

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – FirstCash, Inc. amended and extended its revolving credit facility, upsizing its capacity by $25 million to $425 million, according to an 8-K filing with the Securities and Exchange Commission.

The revolver was extended to Oct. 2, 2023 from Sept. 2, 2022.

Some financial covenants were amended to be less restrictive, including an increase in the permitted consolidated leverage ratio to 3 times from 2.75 times EBITDA. The permitted domestic leverage ratio was increased to 4 times from 3.5 times.

The credit facility continues to bear interest at Libor plus 250 basis points.

Wells Fargo Bank, NA is the administrative agent.

First Cash is a retail-based pawn store operator based in Fort Worth, Texas.

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