Tetra Tech enters into $500M term loan facility to finance RPS Group acquisition; terminates bridge facility

TETRA TECH INC

New $500M senior secured RPS Acquisition Term Loan to finance RPS Group plc acquisition.
Also maintains $500M revolving credit facility and $250M existing term loan; total facilities up to $1.25B.
Prior bridge credit agreement (up to £714M + $350M) terminated and replaced.
Financial covenants: max leverage 3.25x (can increase to 3.75x for acquisitions) and min interest coverage 3.00x.
Dividend payments on common stock subject to compliance with financial covenants.

item 1.01 item 1.02 item 3.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TETRA TECH INC entered into Third Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, the subsidiary guarantors and the lenders party thereto (effective 2022-10-26).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, the subsidiary guarantors and the lenders party thereto
Effective: 2022-10-26

Exact text from the filing

On October 26, 2022, Tetra Tech, Inc. (the “Company”) entered a Third Amended and Restated Credit Agreement, among the Company, Tetra Tech Canada Holding Corporation, Tetra Tech UK Holdings Limited (formerly known as Coffey UK Limited), Tetra Tech Coffey Pty., Ltd. (formerly known as Coffey Services Australia Pty. Ltd.), Bank of America, N.A., as administrative agent (the “Administrative Agent”), the subsidiary guarantors and the lenders party thereto (the “Credit Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TETRA TECH INC terminated Bridge Credit Agreement with Bank of America, N.A., as administrative agent and lender (effective 2022-10-26).

Action: termination
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent and lender
Effective: 2022-10-26

Exact text from the filing

The Bridge Credit Agreement was terminated and replaced by the Credit Agreement described under Item 1.01 in this Current Report on Form 8-K.

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38 material agreements filed in the last 30 days. Browse all material agreements →

TETRA TECH INC filing history →

Source: SEC EDGAR

accession 0001104659-22-112095

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