FTI Consulting extends upsized $900 million revolver to 2027

By William Gullotti

Buffalo, N.Y., Nov. 21 – FTI Consulting, Inc. amended and restated its senior secured revolving facility, according to a press release on Monday.

The second amended and restated facility increases the revolving line of credit to $900 million from $550 million and extends the maturity date to Nov. 21, 2027 from Nov. 30, 2023.

The amendments further replaced Libor as the benchmark rate. Borrowings will now bear interest at SOFR, Sonia or Euribor.

The amended and restated revolver also amends some financial, investment, restricted payment and debt covenants to provide the company with more financial flexibility. It further included pricing adjustments based on ESG-related KPI’s, which may be put into effect upon agreement between the company and required lenders.

BofA Securities Inc., JPMorgan Chase Bank, NA, HSBC Securities (USA) Inc. and Truist Securities, Inc. are the joint lead arrangers and joint bookrunners.

Proceeds may be used for working capital, capital expenditures and general corporate purposes, including permitted acquisitions and other investments.

FTI is a business advisory firm based in West Palm Beach, Fla.

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