secwatch.observer — SEC 8-K summary
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Issuer:     ExlService Holdings, Inc. (EXLS)
CIK:        0001297989
Form:       8-K
Filed at:   2026-08-18T20:37:57+00:00
Accession:  0001104659-26-098380
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EXL closes new $1B senior secured credit facility, replacing $600M facility
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- New facility: $600M revolver + $400M term loan, maturing Aug 18, 2031; PNC Bank admin agent.
- Repaid ~$532.7M outstanding under prior Citibank facility; no early termination penalties.
- Accordion allows expansion up to greater of $470M or 100% EBITDA; covenants: interest coverage ≥3.0x, leverage ≤3.5x.
- Proceeds to fund working capital, acquisitions, and share buybacks under $500M repurchase authorization.
- Old facility had $500M revolver + $100M term loan; new facility increases borrowing capacity by $400M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1297989/000110465926098380/0001104659-26-098380-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1297989/000110465926098380/tm2623504d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-098380

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