Tetra Tech enters $460 million five-year revolver via Bank of America

By Jennifer Chiou

New York, March 30 - Tetra Tech, Inc. and some subsidiaries entered into a new credit agreement providing for a $460 million revolving credit facility via Bank of America, NA as administrative agent, according to an 8-K with the Securities and Exchange Commission.

The five-year revolver has a $200 million sublimit for standby letters of credit, a $100 million sublimit for multi-currency borrowings and letters of credit as well as a $10 million sublimit for swing-line loans.

The loan may be increased by up to $140 million.

Borrowings will bear interest at either a Base rate plus 50 basis points to 150 bps or a eurocurrency rate plus 150 bps to 250 bps.

Covenants include, among others, a maximum consolidated leverage ratio and a minimum consolidated fixed-charge coverage ratio, the filing stated.

The facility is guaranteed by the Tetra Tech's material subsidiaries.

The Pasadena, Calif.-based company provides environmental engineering and consulting services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.