Universal Technical Institute signs USD 200 million revolving credit facility with Fifth Third-led bank group
UTI•New credit facility and expanded borrowing capacity
- Universal Technical Institute entered a new revolving credit agreement with a bank syndicate led by Fifth Third Bank.
- The senior secured revolving credit facility is set at USD 200 million, replacing the prior USD 125 million facility.
- The agreement includes a USD 15 million swingline sublimit, and letters of credit capacity has been raised to USD 75 million from USD 20 million.
- It also provides up to USD 75 million of uncommitted incremental facilities, including incremental term facilities or an expanded revolver.
- The facility has a five-year term scheduled to expire in August 2031.
