The size of the facility has been increased from $500 million to $590 million along with an uncommitted accordion feature allowing for an additional $200 million of potential borrowing capacity. In addition, the maturity date of the facility was extended from December 2024 to August 2027 and certain financial covenants were favorably amended to permit increased consolidated leverage through the end of 2024 and to eliminate the existing domestic leverage ratio covenant. The facility is provided by a group of eleven commercial banks, which includes three new participating banks effective with this amendment and extension.
FirstCash is the leading international operator of pawn stores and a leading provider of technology-driven point-of-sale payment solutions, both focused on serving cash and credit-constrained consumers. FirstCash’s more than 2,800 pawn stores located in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments, and other merchandise, and make small consumer pawn loans secured by pledged private property. FirstCash, through its owned subsidiary, American First Finance (“AFF”), also provides lease-to-own and retail finance payment solutions for consumer goods and services through a nationwide network of approximately 7,600 active retail merchant partner locations. As one of the largest omni-channel providers of “no credit required” payment options, AFF’s technology provides its merchant partners with seamless leasing and financing experiences in-store, online, in-cart and on mobile devices.