FTI Consulting announced it has entered into a five-year, $550 million senior secured revolving line of credit. The facility effectively amends and extends the maturity date of the company’s existing $350 million credit facility from November 27, 2017 to June 26, 2020.

FTI said Bank of America is acting as the administrative agent for the credit facility. J.P. Morgan Chase and HSBC Bank USA acted as joint lead arrangers and joint book running managers of the credit agreement.

Borrowings under the credit agreement will bear interest at a rate equal to LIBOR plus an applicable margin or at an alternative base rate plus an applicable margin. The applicable margin for LIBOR borrowings will range between an annual rate of 1.375% and 2.00% and the applicable margin for alternative base rate borrowings will range between an annual rate of 0.375% and 1.00%. The applicable margin will initially be set at an annual rate of 1.75% for LIBOR borrowings and 0.75% for alternative base rate borrowings and will subsequently vary according to the company’s consolidated total leverage ratio. The company will also pay a commitment fee on unused amounts of the credit line initially set at an annual rate of 0.30% and subsequently ranging from an annual rate of 0.25% to 0.35% according to the company’s consolidated total leverage ratio.