The Boyd Group Inc BYD.A -Autobody & Glass Message Board

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Gold/Mining/Energy : The Boyd Group Inc BYD.A -Autobody & Glass

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To: DARPA who wrote (14)	7/27/1999 10:05:00 AM
From: David Michaud	of 41

Boyd Group secures $23.5-million credit facility Boyd Group Inc (The) BYD.A Shares issued 6,109,994 1999-07-23 close $2.1 Tuesday Jul 27 1999 Mr. Terry Smith reports The Boyd Group has renewed its credit facility with the Toronto-Dominion Bank under terms, which will increase its available credit to $23.5-million from its previous limit of $17-million. This credit facility will be used primarily to finance future acquisitions as the company continues with its strategy to consolidate the highly fragmented $40-billion collision repair industry. As is normal for financings of this nature, the credit facility will be secured by Boyd's assets. "This credit facility will provide us with the ability to continue to pay for a portion of our future acquisitions using debt and, in conjunction with our recently announced $25-million capital commitment from trading partners, will significantly stretch our contributed equity and minimize dilution to our shareholders," said Brock Bulbuck, Boyd's senior vice-president and chief financial officer.

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