debt
confidence high
sentiment neutral
materiality 0.50
ExlService refinances $400M revolving credit facility, extends maturity to 2027, replaces LIBOR with SOFR
ExlService Holdings, Inc.
- New $400M revolving credit facility with maturity extended to April 18, 2027 (from Nov 2022).
- Reference rate changed from LIBOR to SOFR for USD borrowings.
- Citibank continues as administrative agent; lenders include PNC, TD, HSBC, JPMorgan, Bank of America.
- The amendment restates prior credit agreement; no novation, reaffirms loan party obligations.