Lincoln Educational Services Expands Credit Facility to Support Growth Initiatives
Lincoln Educational Services (Nasdaq: LINC) has announced a significant expansion of its credit facility with Fifth Third Bank. The company has increased its aggregate principal borrowing amount from $40 million to $60 million, while extending the maturity date to March 7, 2028.
The amendment also includes an expansion of the accordion feature from $20 million to $25 million. This enhanced financial flexibility aims to support the company's growth initiatives and long-term operating objectives. The increased liquidity, combined with what the company describes as a robust balance sheet, positions Lincoln Educational Services to pursue strategic investments and growth opportunities.
Lincoln Educational Services (Nasdaq: LINC) ha annunciato un'importante espansione della sua linea di credito con Fifth Third Bank. L'azienda ha aumentato l'importo totale del prestito principale da 40 milioni di dollari a 60 milioni di dollari, estendendo la data di scadenza a 7 marzo 2028.
La modifica include anche un'espansione della funzione accordion da 20 milioni di dollari a 25 milioni di dollari. Questa maggiore flessibilità finanziaria mira a supportare le iniziative di crescita dell'azienda e gli obiettivi operativi a lungo termine. L'aumento della liquidità, combinato con quello che l'azienda descrive come un bilancio solido, posiziona Lincoln Educational Services per perseguire investimenti strategici e opportunità di crescita.
Lincoln Educational Services (Nasdaq: LINC) ha anunciado una expansión significativa de su línea de crédito con Fifth Third Bank. La compañía ha aumentado su monto total de préstamo principal de 40 millones de dólares a 60 millones de dólares, mientras extiende la fecha de vencimiento hasta 7 de marzo de 2028.
La enmienda también incluye una expansión de la función accordion de 20 millones de dólares a 25 millones de dólares. Esta mayor flexibilidad financiera tiene como objetivo apoyar las iniciativas de crecimiento de la empresa y los objetivos operativos a largo plazo. La liquidez aumentada, combinada con lo que la empresa describe como un balance sólido, posiciona a Lincoln Educational Services para perseguir inversiones estratégicas y oportunidades de crecimiento.
링컨 교육 서비스 (Nasdaq: LINC)는 Fifth Third Bank와의 신용 한도 확장을 발표했습니다. 회사는 총 원금 대출 금액을 4천만 달러에서 6천만 달러로 증가시키고 만기일을 2028년 3월 7일로 연장했습니다.
이번 수정안에는 어코디언 기능의 확장도 포함되어 있으며, 2천만 달러에서 2천5백만 달러로 증가했습니다. 이러한 재정적 유연성 증가는 회사의 성장 이니셔티브와 장기 운영 목표를 지원하기 위한 것입니다. 증가된 유동성과 회사가 탄탄한 재무 상태라고 설명하는 것과 결합하여, 링컨 교육 서비스는 전략적 투자 및 성장 기회를 추구할 수 있는 위치에 있습니다.
Lincoln Educational Services (Nasdaq: LINC) a annoncé une expansion significative de sa ligne de crédit avec Fifth Third Bank. L'entreprise a augmenté son montant total d'emprunt principal de 40 millions de dollars à 60 millions de dollars, tout en prolongeant la date d'échéance jusqu'au 7 mars 2028.
L'amendement comprend également une extension de la fonction accordion de 20 millions de dollars à 25 millions de dollars. Cette flexibilité financière accrue vise à soutenir les initiatives de croissance de l'entreprise et ses objectifs opérationnels à long terme. L'augmentation de la liquidité, combinée à ce que l'entreprise décrit comme un bilan solide, positionne Lincoln Educational Services pour poursuivre des investissements stratégiques et des opportunités de croissance.
Lincoln Educational Services (Nasdaq: LINC) hat eine bedeutende Erweiterung seiner Kreditlinie bei der Fifth Third Bank angekündigt. Das Unternehmen hat den Gesamtdarlehensbetrag von 40 Millionen Dollar auf 60 Millionen Dollar erhöht und das Fälligkeitsdatum auf 7. März 2028 verlängert.
Die Änderung umfasst auch eine Erweiterung der Akkordeon-Funktion von 20 Millionen Dollar auf 25 Millionen Dollar. Diese verbesserte finanzielle Flexibilität soll die Wachstumsinitiativen des Unternehmens und die langfristigen Betriebsziele unterstützen. Die erhöhte Liquidität, kombiniert mit dem, was das Unternehmen als eine robuste Bilanz beschreibt, positioniert Lincoln Educational Services, um strategische Investitionen und Wachstumschancen zu verfolgen.
- Increased credit facility by $20 million to $60 million total
- Extended maturity date to March 7, 2028, providing long-term financial stability
- Expanded accordion feature by $5 million to $25 million
- Strong balance sheet reported by management
- Increased debt capacity could lead to higher leverage
Increased Financial Liquidity, Coupled with a Robust Balance Sheet, Provides Resources for Sustained Growth and Success
PARSIPPANY, N.J., March 11, 2025 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) today announced an amendment to its secured credit agreement with Fifth Third Bank, National Association, increasing the aggregate principal borrowing amount from
Additionally, the accordion feature of the agreement has been expanded from
"We currently have a robust balance sheet. However, this amendment provides additional financial flexibility and ensures we can achieve our long-term growth objectives," said Scott M. Shaw, President and Chief Executive Officer. "We remain focused on delivering value to our key stakeholders, and we believe the increased liquidity and strategic investments will enable us to achieve sustained long-term success.”
ABOUT LINCOLN EDUCATIONAL SERVICES CORPORATION
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education helping to provide solutions to America’s skills gap. Lincoln offers career-oriented programs to recent high school graduates and working adults in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946 and currently operates 21 campuses in 12 states under Lincoln College of Technology, Lincoln Technical Institute, Lincoln Culinary Institute, and associated brand names. For more information, please go to www.lincolntech.edu.
FORWARD-LOOKING STATEMENTS
Statements in this press release and in oral statements made from time to time by representatives of Lincoln Educational Services Corporation regarding Lincoln’s business that are not historical facts, including those made in a conference call, may be “forward-looking statements” as that term is defined in the federal securities law. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,” and “continue,” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Generally, these statements relate to business plans or strategies and projections involving anticipated revenues, earnings, or other aspects of the Company’s operating results. The Company cautions you that these statements concern current expectations about the Company’s future performance or events and are subject to a number of uncertainties, risks, and other influences, many of which are beyond the Company’s control, that may influence the accuracy of the statements and the projects upon which the statements are based including, without limitation, impacts related to epidemics or pandemics; our failure to comply with the extensive regulatory framework applicable to our industry or our failure to obtain timely regulatory approvals in connection with acquisitions or a change of control of our Company; our success in updating and expanding the content of existing programs and developing new programs for our students in a cost-effective manner or on a timely basis; risks associated with cybersecurity; risks associated with changes in applicable federal laws and regulations; uncertainties regarding our ability to comply with federal laws and regulations, such as the 90/10 rule and prescribed cohort default rates; risks associated with the opening of new campuses; risks associated with integration of acquired schools; industry competition; our ability to execute our growth strategies; conditions and trends in our industry; general economic conditions; and other factors discussed in the “Risk Factors” section of our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise after the date hereof.
For further information, please contact:
Brian Meyers
Chief Financial Officer
Lincoln Educational Services Corporation
973-736-9340
bmeyers@lincolntech.edu
FAQ
How much did Lincoln Educational Services (LINC) increase its credit facility in March 2025?
When does LINC's new credit facility agreement expire?
What is the size of LINC's accordion feature in the new credit agreement?
Which bank provided the expanded credit facility to Lincoln Educational Services?
