ABM INDUSTRIES INC /DE/ (ABM): debt financing — ABM Industries adds $255M term loan; dividend capacity raised to $72M/yr

ABM INDUSTRIES INC /DE/

Entered First Amendment to Credit Agreement for a new $255.0M incremental term loan.
Initial interest rate: 2.000% over Term SOFR or 1.000% over Base Rate; moves to grid after April 2026.
Dividend capacity increased from $50M/$1.00 per share to greater of $72M or $1.16 per share annually.
Loan proceeds partially funded the previously disclosed acquisition of Iveagh New Opportunities Ltd for ~$275M cash.
Other terms of the incremental term loan are substantially the same as existing term loans under the Credit Agreement.

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

ABM INDUSTRIES INC /DE/ incurred term loan of $255.0 million with Bank of America, N.A. as Administrative Agent at 2.000% per annum (Term SOFR Loans) / 1.000% per annum (Base Rate Loans).

Instrument: term loan
Principal: $255.0 million
Counterparty: Bank of America, N.A. as Administrative Agent
Rate: 2.000% per annum (Term SOFR Loans) / 1.000% per annum (Base Rate Loans)
Event: incurrence

Exact text from the filing

On February 3, 2026, the Company incurred $255.0 million of the First Incremental Term Loan, pursuant to the Amendment. The Applicable Rate with respect to the First Incremental Term Loan shall be (i) 2.000% per annum, in the case of Term SOFR Loans, and 1.000% per annum, in the case of Base Rate Loans; provided that on and after the first Adjustment Date occurring after the delivery of a Compliance Certificate for the fiscal quarter of the Company ending April 30, 2026, the Applicable Rate with respect to the First Incremental Term Loan will be determined pursuant to the Applicable Pricing Grid.

View on SEC.gov

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

ABM INDUSTRIES INC /DE/ amended First Amendment with Bank of America, N.A. as Administrative Agent and the lenders signatory thereto valued at $255.0 million (effective 2026-02-03).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. as Administrative Agent and the lenders signatory thereto
Value: $255.0 million
Effective: 2026-02-03

Exact text from the filing

On February 3, 2026, ABM Industries Incorporated (the “Company”) entered into the First Amendment (the “Amendment”), by and among the Company, ABM Aviation UK Limited, a company incorporated and registered in England and Wales as a private company limited by shares and a subsidiary of the Company (“ABM UK”), each of the other subsidiaries of the Company from time to time party thereto (collectively, the “Subsidiary Guarantors”), the Lenders (as defined below) signatory thereto and Bank of America, N.A. as Administrative Agent (the “Agent”), which amends that certain Amended and Restated Credit Agreement, dated as of February 26, 2025 (the “Existing Credit Agreement” and, as amended by the Amendment, the “Credit Agreement”), by and among the Company, ABM UK, the Subsidiary Guarantors party thereto, the financial institutions party thereto from time to time as lenders (the “Lenders”) and the Agent.

View on SEC.gov

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

ABM INDUSTRIES INC /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-26-039443

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.