FirstCash Increases Capacity of Unsecured Bank Credit Facility; Maturity Date Extended to August 2029

Core Viewpoint - FirstCash Holdings, Inc. has amended its long-term, unsecured bank credit facility, increasing the commitment size to $700 million and extending the maturity date to August 2029 [1][2]. Financial Summary - The credit facility size increased from $640 million to $700 million, with the maturity date extended from August 2027 to August 2029 [2]. - The amended facility allows for a permitted leverage ratio of up to 3.25 times adjusted EBITDA for the full term, while other financial covenants remain largely unchanged [2]. Strategic Implications - The CEO of FirstCash stated that the additional capacity and extension of the credit facility will support growth and expansion in the U.S. and Latin America, as well as ongoing shareholder payouts through cash dividends and share repurchases [3]. - FirstCash operates over 3,000 pawn stores, focusing on cash and credit-constrained consumers, with approximately 80% of segment earnings coming from its pawn segments in the U.S. and Latin America [4].