Resources Connection to draw down on revolver to fund share buyback

By Wendy Van Sickle

Columbus, Ohio, Nov. 16 – Resources Connection, Inc. plans to draw down on its revolving credit facility to fund part of its repurchase of shares through a Dutch auction tender offer which expired at midnight on Tuesday, according to a press release.

The company will also use $50 million of cash and cash equivalents on hand to fund the repurchase cost of about $107,568,448 plus fees and expenses.

The staffing services firm is based in Irvine, Calif.

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