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ABM Expands and Extends Credit Agreement
ABMABM Industries(ABM) Newsfilter·2025-02-27 13:00

Core Points - ABM has successfully expanded and extended its senior secured credit agreement to a total of 2.2billion,whichincludesa2.2 billion, which includes a 1.6 billion revolving credit facility and a 600millionamortizingtermloan,maturingonFebruary26,2030[1][2]−Thenewcreditfacilityreplacesthepreviousagreementof600 million amortizing term loan, maturing on February 26, 2030 [1][2] - The new credit facility replaces the previous agreement of 1.95 billion, which was set to mature on June 28, 2026, and had an outstanding balance of 528milliononthetermloanpriortotheamendment[2]−TheupsizedfacilityenhancesABM′scapitalstructure,providingincreasedflexibilityforfundingstrategicgrowthinitiativesandoperationaladvancements,reflectingthecompany′songoinggrowth[3]−TheCFOofABMexpressedconfidenceinthecompany′slong−termstrategyandnotedthattheenhancedfacilitywillsupportgrowthinitiativesanddrivelong−termvalueforstakeholders[4]CompanyOverview−ABMisoneofthelargestprovidersofintegratedfacility,engineering,andinfrastructuresolutions,withover100,000teammembersdeliveringessentialservices[4][5]−Thecompanyservesvariousmarketsectors,includingcommercialrealestate,aviation,missioncritical,andmanufacturinganddistribution,generatingover528 million on the term loan prior to the amendment [2] - The upsized facility enhances ABM's capital structure, providing increased flexibility for funding strategic growth initiatives and operational advancements, reflecting the company's ongoing growth [3] - The CFO of ABM expressed confidence in the company's long-term strategy and noted that the enhanced facility will support growth initiatives and drive long-term value for stakeholders [4] Company Overview - ABM is one of the largest providers of integrated facility, engineering, and infrastructure solutions, with over 100,000 team members delivering essential services [4][5] - The company serves various market sectors, including commercial real estate, aviation, mission critical, and manufacturing and distribution, generating over 8 billion in annual revenue [5] - ABM is committed to investing in innovative technologies and sustainable solutions to create smarter, more connected spaces, addressing evolving challenges and contributing to a healthier world [5]