Maximus amends credit agreement, extends loan maturities to 2029 and 2031
On May 30, 2024, Maximus entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. as administrative agent. The company repaid part of its tranche A term loan, reducing it to $650 million, and increased its tranche B term loan to $500 million and its revolving credit facility to $750 million, with maturities extended about three years. The loans are secured by substantially all assets of the company and its wholly owned material domestic subsidiaries, and include financial covenants tested quarterly.
Key points
- Tranche A term loan reduced to $650 million from about $868.1 million; maturity extended to May 30, 2029
- Tranche B term loan increased to $500 million from about $343.2 million; maturity extended to May 30, 2031
- Revolving credit facility increased to $750 million from $600 million; maturity extended to May 30, 2029
- Financial covenants: maximum net total leverage ratio of 4.00 to 1.00 and minimum net interest coverage ratio of 3.00 to 1.00, tested quarterly starting September 30, 2024
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:39 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 June 04, 2024.
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