Huron Amends and Extends Senior Secured Credit Facility

Rhea-AI Summary

Huron (NASDAQ: HURN) has announced an amendment and extension of its senior secured credit facility, changing the maturity date from September 27, 2024, to November 15, 2027. The facility maintains $600 million in aggregate revolving commitments and offers favorable pricing and flexibility for capital deployment. Additionally, it includes provisions for pricing adjustments based on ESG performance. CFO John D. Kelly emphasized the facility's role in supporting growth and capital requirements, reflecting lender confidence in Huron's strategy.

Positive

• Extension of credit facility maturity from September 2024 to November 2027.
• Maintains $600 million in revolving commitments.
• Favorable pricing and flexibility enhance capital deployment capacity.
• Inclusion of pricing adjustments linked to ESG key performance indicators.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Global professional services firm Huron (NASDAQ: HURN) today announced it has amended and extended its senior secured credit facility.

Among other items, the amended and restated credit facility:

• Extends the maturity date from September 27, 2024, to November 15, 2027
• Maintains aggregate revolving commitments of $600 million
• Maintains favorable pricing and flexibility to support Huron’s balanced approach to capital deployment
• Provides flexibility to add pricing adjustments tied to the achievement of ESG key performance indicators

“We are committed to driving long-term shareholder value through our focused growth strategy. This amended and restated credit facility provides the capacity, pricing, and flexibility to support our growth and ongoing capital requirements,” said John D. Kelly, chief financial officer of Huron. “The ongoing commitment from Bank of America, JPMorgan Chase Bank, N.A., and PNC Bank, National Association, as well as our entire syndicate of lenders, reflects their confidence in Huron and our strategy.”

Additional detail regarding the amended credit facility will be included in Huron’s forthcoming Current Report on Form 8-K to be filed with the Securities and Exchange Commission. The Form 8-K will be available on Huron’s website at http://ir.huronconsultinggroup.com when filed.

ABOUT HURON

Huron is a global professional services firm that collaborates with clients to put possible into practice by creating sound strategies, optimizing operations, accelerating digital transformation, and empowering businesses and their people to own their future. By embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve. Learn more at www.huronconsultinggroup.com.

Statements in this press release that are not historical in nature, including those concerning the company’s current expectations about its future results, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “may,” “should,” “expects,” “provides,” “anticipates,” “assumes,” “can,” “will,” “meets,” “could,” “likely,” “intends,” “might,” “predicts,” “seeks,” “would,” “believes,” “estimates,” “plans,” “continues,” “goals,” “guidance,” or “outlook” or similar expressions. These forward-looking statements reflect the company's current expectations about future requirements and needs, results, levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: the impact of the COVID-19 pandemic on the economy, our clients and client demand for our services, and our ability to sell and provide services, including the measures taken by governmental authorities and businesses in response to the pandemic, which may cause or contribute to other risks and uncertainties that we face; failure to achieve expected utilization rates, billing rates and the number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; difficulties in successfully integrating the businesses we acquire and achieving expected benefits from such acquisitions; risks relating to privacy, information security, and related laws and standards; and a general downturn in market conditions. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, including, among others, those described under “Item 1A. Risk Factors” in Huron's Annual Report on Form 10-K for the year ended December 31, 2021 that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. The company disclaims any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006421/en/

MEDIA CONTACT

Allie Bovis

abovis@hcg.com



INVESTOR CONTACT

John D. Kelly

investor@hcg.com

Source: Huron