LINCOLN EDUCATIONAL SERVICES CORP (LINC): debt financing — Lincoln Educational expands revolving credit facility to $125M from $60M

LINCOLN EDUCATIONAL SERVICES CORP

New $125M credit facility replaces prior $60M agreement; includes $10M LC sublimit and $25M accordion feature.
Facility matures on April 11, 2031; proceeds support working capital and growth initiatives.
CEO cites Q1 2026 student start growth of 19-20% as evidence of demand and strategy execution.
Interest rates based on SOFR or Prime plus margins from 1.50%-2.25% (SOFR) or 0.50%-1.25% (Prime), determined by Total Leverage Ratio.
Facility guaranteed by subsidiaries and secured by first-priority lien on substantially all personal property.

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 incurred revolving credit of $125 million with Fifth Third Bank, National Association at Tranche Rate (SOFR) plus 1.50% to 2.25% or Base Rate plus 0.50% to 1.25% maturing April 11, 2031.

Instrument: revolving credit
Principal: $125 million
Counterparty: Fifth Third Bank, National Association
Rate: Tranche Rate (SOFR) plus 1.50% to 2.25% or Base Rate plus 0.50% to 1.25%
Maturity: April 11, 2031
Event: incurrence

Exact text from the filing

The Credit Agreement, which amends and restates the Existing Credit Agreement, provides the Company, as borrower, with a revolving credit facility in the aggregate principal amount of $125 million

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

LINCOLN EDUCATIONAL SERVICES CORP entered into Credit Agreement with Fifth Third Bank, National Association, Flagstar Bank, N.A., Provident Bank and Santander Bank, N.A. valued at $125 million (effective 2026-04-13).

Action: entry
Agreement: credit facility
Counterparty: Fifth Third Bank, National Association, Flagstar Bank, N.A., Provident Bank and Santander Bank, N.A.
Value: $125 million
Effective: 2026-04-13

Exact text from the filing

On April 13, 2026, Lincoln Educational Services Corporation and its subsidiaries (the “Company”) entered into an amended and restated credit agreement (the “Credit Agreement”) with the lenders referred to therein (the “Lenders”), including Fifth Third Bank, National Association, as lender and as administrative agent, joint lead arranger, and joint bookrunner (the “Agent”), and Flagstar Bank, N.A., Provident Bank and Santander Bank, N.A., as lenders and as joint lead arrangers and joint bookrunners.

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38 debt financings filed in the last 30 days. Browse all debt financings →

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Source: SEC EDGAR

accession 0001140361-26-014854

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