HireRight Upsizes Revolving Credit Facility to $145 Million
07 Juni 2022 - 10:05PM
Business Wire
HireRight Holdings (NYSE: HRT), amended and upsized its
revolving credit facility (the “Revolving Facility”), increasing
the committed line under the Revolving Facility to $145 million,
effective June 3, 2022.
“We have meaningfully extended the facility’s maturity and
provided incremental capital to strengthen our disciplined strategy
for growth,” stated Tom Spaeth, Chief Financial Officer. “The
expansion of our Revolving Facility is a testament to our banking
partners and their continued confidence and support of HRT.”
As part of the expanded Revolving Facility, Goldman Sachs, Royal
Bank of Canada, and Barclays joined the syndication. The
syndication is led by Bank of America as administrative agent.
Interest rates on the amended Revolving Facility were changed to
the Secured Overnight Financing Rate (“SOFR”), plus an amount
between 250 bps and 300 bps, depending on HRT’s First Lien Leverage
Ratio. The maturity date of the Revolving Facility was extended to
April 1, 2027 or, if earlier, the date 91 days prior to the stated
maturity date of HRT’s First Lien Senior Secured Term Loan, which
is currently July 12, 2025.
About HireRight HireRight is a leading global provider of
technology-driven workforce risk management and compliance
solutions. We provide comprehensive background screening,
verification, identification, monitoring, and drug and health
screening services for more than 40,000 customers across the globe.
HireRight offers services via a unified global software and data
platform that tightly integrates into its customers' human capital
management systems enabling highly effective and efficient
workflows for workforce hiring, onboarding, and monitoring. In
2021, HireRight screened over 29 million job applicants, employees
and contractors for its customers and processed over 110 million
screens. For more information, visit www.HireRight.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220607006267/en/
Investors: Investor.Relations@HireRight.com Andrew Hay
Vice President of Treasury and Investor Relations (865) 360-4314
Andrew.Hay@hireright.com
Media: Monica Soladay Media.Relations@HireRight.com
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