EXL closes new $1 billion senior secured credit facility, replacing Citibank loan
On August 18, 2026, EXL entered a $1 billion senior secured credit facility with PNC Bank as administrative agent, consisting of a $600 million revolver and a $400 million term loan that mature August 18, 2031. The company used the proceeds to repay about $532,678,050 under its Citibank credit agreement, which it terminated with no early termination penalties. The larger facility increases borrowing capacity and covenant flexibility, with proceeds available for working capital, acquisitions and share buybacks.
Key points
- Facilities total $1 billion: a $600 million revolving credit facility and a $400 million term loan, both maturing August 18, 2031
- Repaid about $532,678,050 under the Citibank credit agreement, terminated with no early termination penalties
- Borrowings bear interest at Term SOFR or Daily Simple SOFR plus a 1.00% to 1.75% margin, set by total net leverage
- Covenants require interest coverage of at least 3.00 to 1.00 and total net leverage of no more than 3.50 to 1.00; obligations are secured by substantially all company assets
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing 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 August 18, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.