Brief: Atlas Technical Consultants Announces Recapitalization And Simplification Of Its Capital Structure

Atlas Critical Minerals

26/02/2021 11:35

Feb 26 (Reuters) - Atlas Technical Consultants Inc  ATCX.O :
    * ATLAS TECHNICAL CONSULTANTS ANNOUNCES SIGNIFICANT
RECAPITALIZATION AND SIMPLIFICATION OF ITS CAPITAL STRUCTURE
    * ATLAS TECHNICAL CONSULTANTS INC - REDEEMS IN FULL
COMPANY'S
SERIES A SENIOR PREFERRED UNITS AT PAR
    * ATLAS TECHNICAL CONSULTANTS - REPLACED ITS CURRENT DEBT
AND
PREFERRED EQUITY AGREEMENTS WITH A NEW TERM LOAN CREDIT
AGREEMENT
    * ATLAS TECHNICAL CONSULTANTS INC - NEW AGREEMENT CONSISTS
OF $432
MILLION OF LONG-TERM DEBT MATURING IN 2028, $75 MILLION
COMMITTED DELAYED DRAW TERM LOAN
    * ATLAS TECHNICAL CONSULTANTS - ALSO REPLACED ITS EXISTING
REVOLVING CREDIT FACILITY WITH FIVE-YEAR, $40 MILLION ASSET
BASED REVOLVING CREDIT AGREEMENT
    * ATLAS TECHNICAL CONSULTANTS - USED A PORTION OF NET
PROCEEDS
FROM NEW DEBT TO REPAY ALL OF ITS $270 MILLION OF BORROWINGS
UNDER ITS EXISTING TERM LOAN

Source text for Eikon:  ID:nGNX4zbFQ0 
Further company coverage:  ATCX.O 

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