On Assignment, a global provider of diversified staffing solutions, completed the amendment of its credit facility. Wells Fargo served as administrative agent for the transaction.

The company increased the size of its existing revolving line of credit from $150 million to $200 million and extended the maturity date to February 21, 2022. There are no borrowings under the line of credit.

Under the amendment, On Assignment repriced its existing $656 million term B loan, reducing the pricing by 50 basis points to LIBOR, plus 2.25 percent and the removal of the LIBOR floor.

As of the closing date of the amendment, the amended credit agreement consists of: a new $656 million term B loan facility which matures on June 5, 2022 and a $200 million revolving loan facility, under which it has no borrowings, including a $20 million swingline subfacility and a $20 million sublimit for letters of credit, which matures on February 21, 2022.