Everus Construction Group Increases Credit Facility to $477.5M for Acquisitions

Everus Construction Group, Inc. has entered into a First Amendment to its Credit Agreement, significantly increasing its borrowing capacity. The company refinanced its existing senior secured first lien term loans and revolving credit commitments, increasing the term loans by $200.0 million to $477.5 million and the revolving credit commitments by $125.0 million to $350.0 million. These changes also come with more favorable pricing terms, including lower interest rates and commitment fees. The proceeds are earmarked for refinancing existing debt, funding the previously announced acquisition of Epsilon Industries, and for general corporate purposes, including working capital.