FirstCash Holdings Amends Credit Facility, Increases Commitment to $1.055B

What Happened

• FirstCash Holdings, Inc. announced a Tenth Amendment to its Amended and Restated Credit Agreement on August 27, 2026 with Wells Fargo Bank, N.A. as administrative agent and a syndicate of banks. The amendment increases the company’s U.S. revolving unsecured credit facility commitment, extends the maturity date, and adjusts certain covenant and fee terms. The company disclosed the amendment in an 8‑K and issued a press release on August 31, 2026.

Key Details

• Lender commitment increased from $700.0 million to $1.055 billion.
• Maturity extended from August 8, 2029 to August 27, 2031.
• Interest rates tied to benchmark rates by currency (SONIA for GBP, SOFR for USD) plus a margin of 2.50% per annum.
• Permitted consolidated net leverage ratio raised to 3.5x consolidated EBITDA for the full term; unused commitment fee was reduced.
• Credit Facility now allows borrowings in both U.S. Dollars and Pounds Sterling and provides additional flexibility under negative covenants.

Why It Matters

• The amendment increases FirstCash’s available liquidity and extends its debt runway, giving the company more borrowing capacity and time before refinancing is required.
• Raising the permitted leverage ratio to 3.5x EBITDA means the company can carry more debt relative to earnings under the facility, which affects financial flexibility and covenant headroom.
• Interest on borrowings will move with market benchmark rates (SOFR/SONIA) plus a set margin, so borrowing costs will vary with interest-rate markets.
• These changes are material to investors because they directly affect FirstCash’s debt capacity, covenant constraints, and near‑to‑medium‑term financing profile.