FTI Consulting, Inc. entered into an Incremental Amendment to its existing Credit Agreement. The Incremental Amendment was by and among the Company, the subsidiaries of the Company party thereto as guarantors, the lenders party thereto (the 2026 Incremental Term Lenders), and Bank of America, N.A., as administrative agent for the 2026 Incremental Term Lenders. The Incremental Amendment modifies the Company's Second Amended and Restated Credit Agreement, dated as of November 21, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, including by the Incremental Amendment, the Credit Agreement), among the Company, the lenders party thereto, the guarantors party thereto, and the Administrative Agent, to provide for a term loan in the aggregate amount of USD 300 million (the Incremental Term Loan) on the date of the Incremental Amendment.
The proceeds from the Incremental Term Loan may be used for general corporate purposes. The Incremental Term Loan bears interest, at the Company's option, at either the Secured Overnight Financing Rate (plus a credit spread adjustment of 0.10%) or the base rate, in each case, plus an applicable margin based on the Company's consolidated total net leverage ratio, as described in the Credit Agreement. The Incremental Term Loan matures on March 17, 2029, and requires the Company to pay customary fees and expenses.
All other terms of the Incremental Term Loan are as set forth in the Incremental Amendment or the Credit Agreement. The Incremental Amendment contains customary representations and warranties. All other material terms and conditions of the Credit Agreement were unchanged.
