Boyd Group Services draws down on available financing facilities

By Rebecca Melvin

New York, March 27 – Boyd Group Services Inc. said it has drawn on available financing facilities, providing about C$575 million of cash, according to a company release.

Available financing for the company is fully drawn, other than swinglines of $40 million and an accordion feature of $275 million.

In addition, the company is reducing staffing over the next few weeks and, as previously reported, it is taking a pause on closing and funding acquisitions and all non-essential capital expenditures to lessen the potential impact of lower demand due the Covid-19 pandemic.

Boyd Group is a Winnipeg, Man.-based mutual fund trust.

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