Korn Ferry adds $500M delayed draw term loan, extends revolver maturity

KORN FERRY

Amended credit agreement includes $500M five-year delayed draw term loan facility (up to two advances within 1 year).
Revolving credit facility renewed for five years from June 24, 2022 (previously $650M).
LIBOR replaced with forward-looking SOFR term rate plus 0.10% SOFR adjustment.
Three financial covenants replaced with a single maximum consolidated secured leverage ratio of 3.50x.

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