Willdan Group (WLDN) said Tuesday it has completed an amendment to its existing credit facilities increasing its borrowing capacity to $200 million from $150 million and extending the maturity date by five years to May 2030.
The restructured facilities provide for a $100 million revolver, a $50 million term loan and a $50 million delayed-draw term loan term, Willdan said.
The five-bank loan syndicate also agreed to reduce the interest rate spread over the Secured Overnight Financing Rate, the company said.
Willdan shares were 0.5% higher in recent trading.
Price: 39.82, Change: +0.21, Percent Change: +0.53
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