FTI Consulting Boosts Revolving Credit Facility by $600M and Extends Maturity
FCN•FTI Consulting has increased its revolving credit line from $900 million to $1.5 billion and extended the maturity date from November 21, 2027 to June 30, 2031. The amendment delivers more favorable ratings-based pricing and covenants following FTI’s upgrade to investment grade, enhancing liquidity for working capital, capex and acquisitions.
1. Facility Increase and Extension
FTI Consulting’s Third Amendment and Restatement increases its senior unsecured revolving credit facility from $900 million to $1.5 billion and pushes the maturity date out to June 30, 2031, boosting available liquidity.
2. Improved Pricing and Covenants
Post its October 2024 investment grade upgrade, FTI secured ratings-based pricing reductions and enhanced covenants, including more favorable restricted payment and debt tests while removing certain constraints entirely.
3. Strategic Flexibility and Use of Proceeds
Proceeds may finance working capital, capital expenditures, debt redemptions, acquisitions and other corporate purposes, supporting disciplined capital allocation. CFO Angela Nam highlighted the facility’s role in strengthening financial position and long-term shareholder value.
