RESOURCES CONNECTION, INC. (RGP): debt financing — RGP enters $50M secured revolving credit facility, replacing 2021 agreement

RESOURCES CONNECTION, INC.

New $50M secured revolving facility (borrowing base tied to eligible receivables) matures Nov 30, 2029.
Option to increase revolver by up to $15M; includes $10M sublimit for standby LCs.
Interest at Term SOFR +1.25%-2.50% or Base Rate +0.25%-1.50%, based on Consolidated EBITDA.
2021 Credit Agreement terminated effective July 2, 2025; obligations secured by substantially all assets.
Customary covenants include total net leverage ratio and fixed charge coverage ratio.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.7

RESOURCES CONNECTION, INC. incurred revolving credit of $50.0 million with Bank of America, N.A., as administrative agent at Term SOFR plus a margin ranging from 1.25% to 2.50% or the Base Rate plus a marg maturing November 30, 2029.

Instrument: revolving credit
Principal: $50.0 million
Counterparty: Bank of America, N.A., as administrative agent
Rate: Term SOFR plus a margin ranging from 1.25% to 2.50% or the Base Rate plus a marg
Maturity: November 30, 2029
Event: incurrence

Exact text from the filing

On July 2, 2025, Resources Connection, Inc. (the “Company”), Resources Connection LLC, and the Company’s domestic subsidiaries entered into a Credit Agreement (the “Credit Facility”) with the lenders party thereto and Bank of America, N.A., as administrative agent, L/C issuer, and the swingline lender. The Credit Facility provides for a secured revolving loan, available in an amount up to the lesser of $50.0 million and a borrowing base formula tied to eligible receivables, which includes a $10,000,000 sublimit for the issuance of standby letters of credit.

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RESOURCES CONNECTION, INC. filing history →

Source: SEC EDGAR

accession 0001084765-25-000085

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