Loan & DebtJul 1, 2026, 07:46 AM
FTI Consulting Increases Revolving Credit Facility to $1.5B
AI Summary
FTI Consulting, Inc. announced it entered into a Third Amendment and Restatement Agreement for its senior unsecured credit facility. This agreement increases the revolving line of credit from $900 million to $1.5 billion and extends its maturity date to June 30, 2031. The new terms include improved ratings-based pricing and more favorable covenants, enhancing the company's financial flexibility following its credit rating upgrade to investment grade in October 2024. The facility will be used for working capital, capital expenditures, general corporate purposes, debt repayments, and acquisitions.
Key Highlights
- Revolving credit facility increased from $900 million to $1.5 billion.
- Maturity date extended from November 21, 2027, to June 30, 2031.
- Existing $300 million term loan facility remains outstanding.
- Permits incremental facilities up to $500 million or 100% of consolidated EBITDA.
- Allows unlimited incremental facilities if Consolidated Total Net Leverage Ratio is not greater than 4.00 to 1.00.
- Improved pricing terms due to S&P Global investment grade rating in October 2024.
- Company generated $3.8 billion in revenues during fiscal year 2025.
Price Impact
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