Huron Consulting Group Inc., a provider of business consulting services, announced it has amended its senior secured credit facility with Bank of America, as lender, administrative agent and collateral agent; and JP Morgan Chase Bank, PNC Bank, BMO Harris Bank, KeyBank, Fifth Third Bank, The Northern Trust Company, RBS Citizens, The PrivateBank and Trust Company, FirstMerit Bank, Northbrook Bank & Trust Company, Compass Bank, Associated Bank, The Huntington National Bank and U.S. Bank as lenders.

Among other terms, the amendment:

  • Increases the term loan from $180.0 million to $202.5 million and increases the revolving line of credit from $150.0 million to $247.5 million

  • Increases the leverage ratio throughout the term and extends the maturity date from April 14, 2016 to August 31, 2017

  • Lowers the interest rate spread by 50 basis points for each pricing tier

  • Increases the acquisition basket to $75 million per transaction and up to $150 million during any 12-month period

    “The amended credit facility provides us with the capacity for our strategic long-term goals as we look to grow our practices,” said C. Mark Hussey, chief financial officer, Huron Consulting Group. “It also allows us to take advantage of the current credit market and obtain more favorable pricing. We are delighted to continue our strong relationship with Bank of America and JPMorgan Chase, and are very pleased with the ongoing support from our syndicate of lenders.”