ABM Industries enters $2.2 billion amended credit agreement maturing February 2030
ABM Industries entered an amended and restated credit agreement dated February 26, 2025, with Bank of America as administrative agent. The facility provides $1.6 billion of revolving commitments and $600 million of term facility commitments, both with a five-year term maturing February 26, 2030, and it refinances the company's prior credit agreement from 2017.
Key points
- Revolving credit commitments of $1.6 billion and term facility commitments of $600 million, maturing February 26, 2030
- Borrowings priced at a margin tied to the total net leverage ratio over Term SOFR or a base rate; commitment fee of 0.200% to 0.400%
- Financial covenants include maximum total net leverage of 5.00 to 1.00, maximum secured net leverage of 4.00 to 1.00, and minimum interest coverage of 1.50 to 1.00
- Initial term loan proceeds were used to refinance the Original Credit Agreement, repay part of revolving borrowings and pay transaction costs
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 28, 2025.
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