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.

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