Universal Technical Institute refinances with new $200M revolving credit facility

UNIVERSAL TECHNICAL INSTITUTE INC

New $200M senior secured revolving credit facility replaces existing $125M facility; matures August 2031.
Includes $15M swingline sublimit and $75M letters of credit (up from $20M); $75M uncommitted incremental capacity.
Lenders: Fifth Third Bank (admin agent), JPMorgan Chase, Truist, Citibank, and PNC.
Interest at Term SOFR + 1.50%-2.25% margin or Base Rate + 0.50%-1.25%; unused fee 0.20%-0.35%.
Proceeds to support working capital, internal initiatives, and acquisitions under North Star Strategy.

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