Innovative Solutions & Support Inc. (IS&S) has announced the signing of a new five-year, $100 million committed credit agreement with a lending syndicate led by JPMorgan Chase Bank, N.A. This new agreement replaces the company's previous $35 million line of credit. The arrangement includes a $30 million secured revolving loan facility, a $25 million secured term loan, and a $45 million secured delayed draw term facility, with an additional option to request up to $25 million under specific conditions. The interest rates are determined by the company's total net leverage ratio. This expanded credit facility is expected to provide IS&S with increased liquidity and flexibility, supporting its long-term growth strategy and capital allocation priorities.
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