Huron Consulting Group Amends Senior Secured Credit Facility
Among other terms, the amendment:
Increases the term loan from
$180.0 million to $202.5 million and increases the revolving line of credit from $150.0 million to $247.5 million
Increases the leverage ratio throughout the term and extends the
maturity date from April 14, 2016 to
August 31, 2017
- Lowers the interest rate spread by 50 basis points for each pricing tier
Increases the acquisition basket to
$75 millionper transaction and up to $150 millionduring any 12-month period
"The amended credit facility provides us with the capacity for our
strategic long-term goals as we look to grow our practices," said C.
The Company intends to file a Form 8-K providing additional detail of
the amended credit agreement with the
Statements in this press release, including the information incorporated by reference herein, that are not historical in nature, including those concerning the Company’s current expectations about its future requirements and needs, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “may,” “should,” “expects,” “provides,” “anticipates,” “assumes,” “can,” “meets,” “could,” “intends,” “might,” “predicts,” “seeks,” “would,” “believes,” “estimates” or “continues”. Risks, uncertainties and assumptions that could impact the Company’s forward-looking statements relate, among other things, to future indemnity costs for former employees with respect to the restatement. In addition, these forward-looking statements reflect our current expectation about our future requirements and needs, results, levels of activity, performance, or achievements, including, without limitation, that our business continues to grow at the current expectations with respect to, among other factors, utilization rates, billing rates, and the number of revenue-generating professionals; that we are able to expand our service offerings; that we successfully integrate the businesses we acquire; and that existing market conditions continue to trend upward. These statements involve known and unknown risks, uncertainties and other factors, including, among others, those described under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2011 that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Huron Consulting Group Inc.
Jennifer Frost Hennagir, 312-880-3260
C. Mark Hussey or Ellen Wong, 312-583-8722