FTI Consulting Boosts Revolving Credit to $1.5B, Extends Maturity to 2031 with Improved Terms
FCN is trading near its 52-week low of $137.65 (8.0% above the low).
Summary
FTI Consulting announced it increased its revolving credit facility from $900 million to $1.5 billion and extended its maturity to June 2031. The new agreement includes more favorable pricing and covenants, reflecting the company's investment-grade credit rating. This $600 million increase in available credit significantly enhances the company's financial flexibility and liquidity. This follows recent Q1 results that showed increased long-term debt and a board authorization for an additional $370 million in share repurchases, providing ample capacity for general corporate purposes, including potential acquisitions or further buybacks.
At the time of this announcement, FCN was trading at $148.69 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $137.65 to $189.30. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.