According to an 8K filed with the SEC, Capital One served as administrative agent on the repricing of Montrose Environmental Group’s $175 million term loan facility. The interest rate spread on the term loan was reduced by 50 basis points to LIBOR, with a 1% floor, plus 4.5%, compared with the prior rate of LIBOR, with a 1% floor, plus 5%. The interest rate on Montrose’s revolving credit facility was unchanged at LIBOR plus 3.5% and the maturity date on both facilities remains unchanged in 2025.

“This reduction in borrowing rates reflects the ongoing progress we have made in strengthening our balance sheet and improving our operational performance,” Allan Dicks, CFO of Montrose, said. “This successful repricing provides us with additional financial flexibility to execute on our strategic initiatives and underscores the strong relationships we maintain with our financial partners.”

Montrose is an environmental services company focused on supporting commercial and government organizations.