06:48 AM EDT, 04/23/2024 (MT Newswires) -- AutoCanada ( AOCIF ) , a North American automobile dealership group, on Tuesday said it had extended the maturity of its existing credit facility while also increasing the amount.

According to a statement, the amended credit facility includes extending the maturity date to April 22, 2027 and adds a $25 million CapEx facility to support the company's anticipated capital expenditures over the coming quarters. The total aggregate bank facilities grows to $1.635 billion from $1.610 billion.

The amended credit facility also includes enhancements to used vehicle flooring criteria and other administrative changes, including the transition from Canadian Dollar Offered Rate to Canadian Overnight Repo Rate Average, AutoCanada ( AOCIF ) said.