Huron Consulting amends loan, raising size and trimming pricing

By Sara Rosenberg

New York, Sept. 4 - Huron Consulting Group Inc. amended its senior secured credit facility, increasing the term loan to $202.5 million from $180 million and the revolver to $247.5 million from $150 million and reducing pricing by 50 basis points for each tier in the pricing grid, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Pricing on the facility can now range from Libor plus 125 basis points to 225 bps based on leverage.

In addition, the amendment extended the maturity to Aug. 31, 2017 from April 14, 2016.

Also, the leverage ratio was increased throughout the term of the facility, the acquisition basket was lifted to $75 million per transaction and up to $150 million during any 12-month period, and the restricted payments base amount was raised to $50 million from $10 million.

The amendment was completed on Aug. 31.

Bank of America is the administrative agent on the deal.

Huron is a Chicago-based provider of business consulting services.

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