Bowman Increases Borrowing Capacity Under Revolving Credit Facility
03 Agosto 2023 - 8:55AM
Business Wire
Bowman Consulting Group Ltd. (the “Company” or “Bowman”)
(NASDAQ: BWMN) announced today that it has completed a First
Amendment to Amended and Restated Credit Agreement (the “First
Amendment”) with respect to the Company’s revolving credit facility
(the “Revolver”) with Bank of America, N.A. The First Amendment
increases the maximum principal amount under the Revolver from $50
million to $70 million, modifies certain provisions related to
interest rate spreads and unused fees, and extends the term to July
31, 2025. Other general terms of the Revolver remained
unchanged.
“As we continue to execute on our strategic growth initiative,
our credit facility allows us to be nimble and capitalize on
opportunities as they present themselves,” said Gary Bowman,
Bowman’s Chairman and CEO. “We appreciate our long-standing
partnership with Bank of America.”
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering
services firm delivering infrastructure solutions to customers who
own, develop, and maintain the built environment. With over 1,900
employees and more than 75 offices throughout the United States,
Bowman provides a variety of planning, engineering, geospatial,
construction management, commissioning, environmental consulting,
land procurement and other technical services to customers
operating in a diverse set of regulated end markets. Bowman trades
on the Nasdaq under the symbol BWMN. For more information, visit
bowman.com or investors.bowman.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230803700556/en/
Investor Relations Contact: Bruce Labovitz
ir@bowman.com
Larry Clark lclark@bowman.com
Bowman Consulting (NASDAQ:BWMN)
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