PC Connection amends credit facility, replacing LIBOR references with BSBY Rate
PC Connection entered into a Fourth Amendment to its credit agreement with Citizens Bank, N.A. on June 13, 2023, under which the company may borrow up to $50.0 million, with an option to increase that to $80.0 million in certain circumstances. The amendment mainly replaces LIBOR-based references with the BSBY Rate and related loan terms, and the filing does not describe changes to borrowing limits or financial covenants.
- Amendment dated June 13, 2023, with Citizens Bank, N.A. as agent and lender
- Credit facility allows borrowing up to $50.0 million, expandable to $80.0 million at the company's option in certain circumstances
- 'LIBOR Rate' references replaced with 'BSBY Rate', defined with a 0.00% floor
- Filed as Exhibit 10.1 to the 8-K