FirstService Corporation entered into an uncommitted receivables purchase agreement with Canadian Imperial Bank of Commerce on April 10, 2026, allowing its subsidiary FirstOnSite Restoration Limited to sell eligible receivables on a non-committed basis.
Key takeaways
FirstService Corporation entered into an uncommitted receivables purchase agreement with Canadian Imperial Bank of Commerce on April 10, 2026.
The agreement allows subsidiary FirstOnSite Restoration Limited to sell eligible receivables to the bank on a non-committed basis.
FirstService Corporation acts as guarantor for the obligations of the sellers under the agreement.
The agreement establishes terms for purchase, servicing, and collection of receivables denominated in CAD or USD.
The facility is uncommitted, meaning neither party is obligated to offer or purchase receivables.