Loan & DebtJul 16, 2026, 04:07 PM
RGP Secures New $30M Revolving Credit Facility
AI Summary
RESOURCES CONNECTION, INC. (RGP) has entered into a new Revolving Credit, Guaranty and Security Agreement with PNC Bank, National Association, providing up to $30 million in secured revolving loans. This new facility, maturing on July 15, 2031, will be used for working capital, capital expenditures, and dividends, replacing the previously terminated 2025 Credit Agreement. Additionally, the Board reclassified Director Roger Carlile to achieve a more equal apportionment among its director classes.
Key Highlights
- Secured new Revolving Credit Facility for up to $30 million with PNC Bank.
- Credit Facility matures on July 15, 2031.
- Interest rates based on Term SOFR (1.75%-2.25% margin) or Alternate Base Rate (0.75%-1.25% margin).
- Facility proceeds for working capital, capital expenditures, and dividends.
- Replaced and terminated the previous 2025 Credit Agreement.
- Director Roger Carlile reclassified from Class III to Class II for board apportionment.
Price Impact
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