Boyd Group Services Inc. Enhances Financial Flexibility And Facilitates Future Growth

Boyd Group Services Inc. (BYD.TO) ("BGSI", "the Boyd Group" or "Boyd") today announced that it has increased and extended its existing revolving credit facility to US$550 million , with an accordion feature which can increase the facility to a maximum of US$825 million (the "Facility").  This is accompanied by the addition of a new seven-year fixed-rate Term Loan A in the amount of US$125 million (the "Term Loan"). The Facility will mature in March 2025 and the Term Loan in March 2027.

"This amended credit facility provides more favorable pricing and increases our financial flexibility," said Pat Pathipati , Executive Vice President and Chief Financial Officer of the Boyd Group. "Additionally, the seven-year fixed-rate Term Loan financing takes advantage of a historically low interest rate environment.  These financing arrangements, along with our strong balance sheet, will enable us to continue executing our growth strategy and building shareholder value."

The lending institutions participating in the Facility include The Toronto-Dominion Bank as lead arranger, Bank of America, National Bank of Canada , The Bank of Nova Scotia , and Canadian Imperial Bank of Commerce. The Term Loan is provided through TD Bank, N.A.

About Boyd Group Services Inc.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares on the Toronto Stock Exchange (TSX) under the symbol BYD. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com

About The Boyd Group Inc.

The Boyd Group Inc. (the "Company") is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. The Company operates locations in Canada under the trade names Boyd Autobody & Glass (http://www.boydautobody.com) and Assured Automotive (http://www.assuredauto.ca) as well as in the U.S. under the trade name Gerber Collision & Glass (http://www.gerbercollision.com). In addition, the Company is a major retail auto glass operator in the U.S. with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. The Company also operates a third party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at (http://www.boydgroup.com)