Fti consulting announces increase of senior secured revolving line of credit to $900.0 million and extension of maturity date to november 21, 2027

Washington, nov. 21, 2022 (globe newswire) -- fti consulting, inc. (nyse: fcn) today announced that it has entered into the second amendment and restatement of its senior secured revolving credit facility (the "second amended and restated credit agreement"). the second amended and restated credit agreement increases the revolving line of credit from $550.0 million to $900.0 million, extends the maturity date from november 30, 2023 to november 21, 2027, replaces usd libor with, at the company's option, term sofr and daily simple sofr, gbp libor with sonia, and eur libor with euribor, and amends certain financial, investment, restricted payment, debt and other covenants to provide the company with more financial flexibility. bofa securities inc., jp morgan chase bank, n.a., hsbc securities (usa) inc. and truist securities, inc. acted as joint lead arrangers and joint book managers. the second amended and restated credit agreement further provides that, upon the consent of the company and the required lenders (as defined therein), the second amended and restated credit agreement may be amended, at the company's election, to include pricing adjustments based on certain environmental, social and governance (esg)-related key performance indicators to be established by the company in consultation with the sustainability coordinator (as defined therein). borrowings under the second amended and restated credit agreement may be used to finance working capital and for capital expenditures, other general corporate purposes, permitted acquisitions and other investments.
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