Global professional services firm Huron refinanced and extended its senior secured credit facility. Among other items, the amended and restated credit facility:
- Extends the maturity date from November 2027 to July 2030
- Increases borrowing capacity to $1.1 billion, consisting of a $700 million revolving credit facility and $400 million term loan A
- Improves pricing and flexibility to enable Huron’s balanced approach to capital deployment in support of its refreshed strategy and financial goals
“With our commitment to delivering shareholder value, we are focused on investing organically and executing our balanced capital deployment strategy to achieve our medium-term financial goals. This amended and restated credit facility further strengthens our balance sheet and provides the flexibility to execute on our capital deployment priorities: returning capital to shareholders while maintaining our target leverage ratio and completing programmatic tuck-in acquisitions,” John D. Kelly, chief financial officer of Huron, said. “We’re pleased with the successful extension, expansion, and repricing of our senior secured credit facility and the strong backing from our lenders, which resulted in oversubscribed demand. The support from Bank of America, JPMorgan Chase Bank, N.A. and PNC Bank, National Association, as well as our full syndicate of lenders, reflects their continued confidence in Huron, our financial strength, and our strategic direction.”
