ABM Industries announced it has amended its senior, secured credit agreement. The upsized credit facility totals $1.95 billion and consists of a $1.3 billion revolving credit facility and a $650 million term loan and has a maturity date of June 28, 2026. ABM’s prior credit facility, amended in May 2020 and scheduled to mature on September 1, 2022, totaled $1.51 billion, and consisted of an $800 million revolving credit facility and a term loan, the outstanding balance of which prior to the amendment was $620 million. As a result of the amended credit agreement, ABM’s current available borrowing capacity has increased from $622 million to $1.1 billion, subject to covenant restrictions. As of April 30, 2021, the Company also had $435.7 million in cash and cash equivalents on its balance sheet. The revised and expanded credit facility enhances the Company’s financial flexibility, providing increased liquidity to fund strategic growth initiatives and features several financial covenant improvements, including the removal of certain limitations on dividends, share repurchases and permitted investments such as acquisitions. Additionally, the revised agreement has more favorable credit terms on both the revolving credit facility and the term loan. The amendment is effective as of June 28, 2021.