LINCOLN EDUCATIONAL SERVICES CORP (LINC): debt financing — Lincoln Educational expands credit facility to $60M, extends maturity to 2028

LINCOLN EDUCATIONAL SERVICES CORP

Credit facility increased from $40M to $60M with Fifth Third Bank.
Maturity extended from Feb 2027 to March 7, 2028; accordion feature raised to $25M.
Proceeds for working capital, general corporate, and growth initiatives.
Financial covenants replaced as part of amendment; other terms unchanged.
CEO Scott Shaw states robust balance sheet and increased liquidity support long-term objectives.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LINCOLN EDUCATIONAL SERVICES CORP amended credit facility of $40 million to $60 million with Fifth Third Bank, National Association maturing March 7, 2028.

Instrument: credit facility
Principal: $40 million to $60 million
Counterparty: Fifth Third Bank, National Association
Maturity: March 7, 2028
Event: amendment

Exact text from the filing

The Amendment effects certain modifications to the Credit Agreement including, among other things: (i) to increase the size of the Facility, including the aggregate principal amount from $40 million to $60 million and the accordion feature from $20 million to $25 million, (ii) to extend the term of the Facility to March 7, 2028

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Source: SEC EDGAR

accession 0001140361-25-008110

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