Universal Technical Institute, Inc. Announces New Revolving Line of Credit Agreement with Fifth Third Bank, JPMorganChase, Truist, Citi and PNC
Universal Technical Institute secured a new $200 million revolving credit facility, replacing its prior $125 million facility and significantly expanding its financial runway. The five-year agreement, arranged by a syndicate including Fifth Third, JPMorgan Chase, and Citi, includes a $15 million swingline sublimit and increases the letter of credit capacity to $75 million.
Key figures
- Deal Value Usd
- 200000000
- Term years
- 5
- Lc sublimit usd
- 75000000
- Previous facility usd
- 125000000
- Swingline sublimit usd
- 15000000
- Incremental facility capacity usd
- 75000000
AI analysis
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