Forrester doubles revolver to $150 million, extends to 2026

By Wendy Van Sickle

Columbus, Ohio, Dec. 22 – Forrester Research, Inc. amended its credit agreement on Tuesday to increase revolver commitments to $150 million from $75 million with an extended maturity date in December 2026 and to eliminate the existing term loan, among other things, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, the margin was reduced to a range from 125 basis points to 175 bps over Libor, depending on consolidated total leverage ratio.

Further, the minimum fixed charge coverage ratio financial covenant was replaced with a minimum consolidated interest coverage ratio of 3.50:1; a covenant was added limiting the amount of capital expenditures made by Forrester in each fiscal year up to $25 million annually with respect to its headquarters property and an additional general basket of $20 million annually was included.

JPMorgan Chase Bank, NA is administrative agent.

Forrester Research is a research and advisory firm based in Cambridge, Mass.

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