FirstCash Boosts Credit Facility to $1.055B Amid UK Expansion Plans

FirstCash Holdings Inc., the parent company of over 3,300 retail pawn stores in the US, Latin America, and the UK, has amended its unsecured bank credit agreement. The updated facility now stands at $1.055 billion, up from $700 million, with a maturity date extended to August 2031.

The amendment includes an increased permitted net leverage ratio of up to 3.5 times consolidated EBITDA for the full term of the agreement. Additionally, the company can borrow directly in British pounds sterling, up to $500 million USD equivalent.

Chief Executive Officer Rick Wessel stated that the additional capacity will support FirstCash's growth and expansion plans. The facility is expected to facilitate funding for the acquisition of Ramsdens pawn stores in the UK, pending final regulatory approval.