Facility Management

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ABM Expands and Extends Credit Agreement
Newsfilter· 2025-02-27 13:00
Core Points - ABM has successfully expanded and extended its senior secured credit agreement to a total of $2.2 billion, which includes a $1.6 billion revolving credit facility and a $600 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 $528 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]
ABM to Announce First Quarter 2025 Financial Results
GlobeNewswire News Room· 2025-02-26 13:00
Core Points - ABM will release its financial results for the fiscal first quarter 2025 on March 12, 2025, before market open [1] - A quarterly conference call will be held on the same day at 8:30 AM (ET) for interested parties [2] - A replay of the conference call will be available approximately three hours after the live event and can be accessed until March 26, 2025 [3] Company Overview - ABM is one of the largest providers of integrated facility, engineering, and infrastructure solutions globally [4] - The company has over 100,000 team members and generates over $8 billion in annual revenue [5] - ABM serves various market sectors, including commercial real estate, aviation, mission critical, and manufacturing and distribution [5]