FTI Consulting, Inc. Completes New $350.0 Million Senior Secured Revolving
Line of Credit
WEST PALM BEACH, Fla., Nov. 28, 2012
WEST PALM BEACH, Fla., Nov. 28, 2012 /PRNewswire/ --FTI Consulting, Inc.
(NYSE: FCN) (the "Company"), the global business advisory firm dedicated to
helping organizations protect and enhance their enterprise value, today
announced that it has entered into a new five-year, $350.0 million senior
secured revolving line of credit (the "Revolving Credit Facility") which
refinances its existing $250.0 million credit facility set to mature on
September25, 2015. Subject to certain conditions, at any time prior to
maturity, the Company will be able to invite existing and new lenders to
increase the size of the facility up to a maximum of $425.0 million. The
Revolving Credit Facility has a maturity date of November 27, 2017.
The obligations of the Company under the Revolving Credit Facility are
guaranteed by substantially all of the Company's domestic subsidiaries and
secured by substantially all of the Company's and its domestic subsidiaries'
assets (including 65% of the issued and outstanding voting stock and 100% of
the non-voting stock of each controlled foreign corporation owned by a
domestic subsidiary guarantor).
Interest on the borrowings under the Revolving Credit Facility is payable, at
the option of the Company, at either a "Base Rate" or "LIBOR," in each case
plus an applicable margin. Borrowings under the Revolving Credit Facility may
be used for general corporate purposes of the Company and its subsidiaries,
including capital expenditures and permitted acquisitions, subject to certain
In connection with the Revolving Credit Facility, Merrill Lynch, Pierce Fenner
& Smith Incorporated, J.P. Morgan Securities LLC and HSBC Securities (USA),
Inc. acted as joint lead arrangers. Bank of America, N.A. is acting as
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping
organizations protect and enhance enterprise value in an increasingly complex
legal, regulatory and economic environment. With more than 3,800 employees
located in 24 countries, FTI Consulting professionals work closely with
clients to anticipate, illuminate and overcome complex business challenges in
areas such as investigations, litigation, mergers and acquisitions, regulatory
issues, reputation management, strategic communications and restructuring. The
Company generated $1.57 billion in revenues during fiscal year 2011. More
information can be found at www.fticonsulting.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of
federal securities law. You should exercise caution in interpreting and
relying on forward-looking statements because they involve known and unknown
risks, uncertainties and other factors which are, in some cases, beyond the
Company's control. Such risks and uncertainties include, but are not limited
to, the effect of general economic conditions and other factors listed in the
Company's filings with the Securities and Exchange Commission. We are under no
duty to update any of the forward looking statements to conform such
statements to actual results or events and do not intend to do so.
SOURCE FTI Consulting, Inc.
Contact: Mollie Hawkes, Investor Relations & Communications Manager, FTI
Consulting, +1-617-747-1791 direct, firstname.lastname@example.org
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