Korn Ferry enters $850 million secured revolving credit facility, repays prior loan
On July 1, 2025, Korn Ferry entered into an $850 million five-year senior secured revolving credit facility with Wells Fargo Bank as administrative agent, and used it to repay all obligations under its December 16, 2019 credit agreement with Bank of America. The new facility is secured by substantially all assets of the company and its guarantor subsidiaries, and includes a secured net leverage covenant of no greater than 3.75 to 1.00, which shareholders may want to track as it governs borrowing capacity.
Key points
- Facility size: $850 million five-year senior secured revolving credit facility, dated July 1, 2025
- Pricing: Term SOFR plus 1.125% to 2.00%, or base rate plus 0.125% to 1.00%, depending on consolidated net leverage ratio
- Covenant: secured net leverage ratio not greater than 3.75 to 1.00; company may add term loans or increase commitments by up to $600 million plus an unlimited amount subject to a 3.25 to 1.00 secured net leverage ratio
- Prior credit agreement dated December 16, 2019 with Bank of America, N.A. as administrative agent was repaid and terminated
The filing
Written by AI on Nov 8, 2026, 1:01 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 July 02, 2025.
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.