Bowman Consulting Group entered into a $100 million aggregate revolving credit agreement with Bank of America as administrative agent and TD Bank as syndication agent. With a five-year term, the credit agreement replaces the company’s $70 million revolving line of credit with Bank of America. The general provisions of the credit agreement are similar to the predecessor credit facility.
“This expanded credit facility reflects our long-term partnership with Bank of America and adds a new relationship in TD Bank,” Gary Bowman, CEO of Bowman, said. “The new facility further secures our ability to access capital as we continue to execute on our strategic growth initiative.”
The company will discuss the credit agreement in more detail at its upcoming earnings conference call on May 7, 2024, at 9:00 a.m. ET.
