KORN FERRY (KFY): debt financing — Korn Ferry enters $850M secured revolving credit facility, replaces prior BofA agreement

KORN FERRY

New $850M five-year senior secured revolver with Wells Fargo as administrative agent.
Interest rate options: Term SOFR + 1.125%-2.00% or base rate + 0.125%-1.00%, based on leverage.
Accordion feature allows up to $600M increase plus unlimited subject to 3.25x secured net leverage.
Financial covenant requires secured net leverage ratio ≤ 3.75x; collateral covers substantially all assets.

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

KORN FERRY incurred credit facility of $850 million with Wells Fargo Bank, National Association as administrative agent, and other lender parties thereto at Term SOFR, plus an interest rate margin between 1.125% per annum and 2.00% per a maturing five years.

Instrument: credit facility
Principal: $850 million
Counterparty: Wells Fargo Bank, National Association as administrative agent, and other lender parties thereto
Rate: Term SOFR, plus an interest rate margin between 1.125% per annum and 2.00% per a
Maturity: five years
Event: incurrence

Exact text from the filing

The Credit Agreement provides for an $850 million five-year senior secured revolving credit facility (the “Facility”).

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Source: SEC EDGAR

accession 0001193125-25-154304

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