CRA International expands and extends credit facility to $400 million
CRAI•Use of proceeds
Proceeds will be used to repay existing borrowings, support working capital, fund growth, and cover general corporate purposes.
New five-year credit facility
CRA International secured a new five-year credit facility of up to $400 million with a six-bank syndicate.
The facility includes a $75 million term loan and a $325 million revolving credit facility.
Revolver terms and prior facility
The revolver can be reduced to $250 million from July 16 to Jan. 15; it is optional to keep it at $250 million from Jan. 16 to July 15.
The new agreement amends and upsizes the prior $300 million revolver, which was previously due to mature in August 2027.
