DHI Group signed an amended and restated credit agreement increasing the size from a $90 million revolving credit facility to a $100 million revolving credit facility, with an accordion feature for an additional $50 million. The facility, previously due to expire in 2023, now has a maturity date of June 2027. The pricing structure of the new facility is materially unchanged from the existing credit facility, with a change to a SOFR-based pricing grid. At the time of closing, DHI will have $30 million of the $100 revolver drawn.
“The amended and restated credit facility allows for additional financial flexibility to drive our growth strategy forward,” Art Zeile, president and CEO of DHI, said. “This increase in both facility size and participating banks provides further evidence of the confidence our lenders have in DHI executing its business plan.”
JPMorgan Chase Bank is acting as administrative agent. Bank of America and BMO Harris Bank are acting as co-syndication agents. TD Bank and Citizens Bank are acting as co-documentation agents, with JPMorgan Chase Bank, BofA Securities and BMO Harris Bank as joint bookrunners and joint lead arrangers.
