Loan & DebtJun 5, 2026, 06:06 AM
TIC Solutions Amends Credit Agreement, Cuts Interest Rate
AI Summary
TIC Solutions, Inc. has entered into the Third Amendment to its Credit Agreement. The amendment reduces the interest rate on its Amendment No. 3 Term Loans by 25 basis points and increases the Letter of Credit Sublimit to $50.0 million. Principal payments on these loans will begin quarterly on September 30, 2026. The company also noted previous commercial and financial arrangements with some of the lenders involved.
Key Highlights
- TIC Solutions amended its Credit Agreement, reducing interest rates by 25 basis points on Amendment No. 3 Term Loans.
- The Letter of Credit Sublimit was increased to $50.0 million.
- Principal payments on Amendment No. 3 Term Loans will commence quarterly on September 30, 2026, at 0.25% of the initial principal amount.
- The Amendment No. 3 Term Loans now bear interest at Term SOFR + 2.50% or Base Rate + 1.50%, at the borrower's election.
Price Impact
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