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Letter to the Editor
Thursday November 11
Boyd Group Renews Existing Bank Credit Facilities
The Boyd Group Income Fund has renewed its credit facilities with the Toronto-Dominion Bank. The renewed credit facility extends the term of the Fund's existing term facility to January 15, 2009, and increases its operating Line of Credit from $6.0 million to $10.0 million.The renewed term facility requires a U.S. $1.7 million repayment of existing debt during the fourth quarter of 2004 and includes a repayment schedule of increasing quarterly instalments beginning April 15, 2005. As is normal for financings of this nature, the credit facility will continue to be secured by the Fund's assets.
The Boyd Group Inc. is the largest operator of collision repair centres in Canada and among the largest in North America, operating 86 corporate and eight franchised locations in the U.S. and Canada under its trade names.
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