Booz Allen Hamilton
Jul 18, 2016
PDF

Booz Allen Hamilton Inc. Closes Third Amendment to Credit Agreement

MCLEAN, Va.--(BUSINESS WIRE)-- Booz Allen Hamilton Holding Corporation (NYSE: BAH) today announced that on July 13, 2016, its wholly owned subsidiary, Booz Allen Hamilton Inc. (the "Company") successfully closed the third amendment to its credit agreement dated as of July 31, 2012. With no increase in net borrowing and a reduction in overall interest costs, the amendment extended the maturity of all of the outstanding $1,583 million of the Company's borrowings under the credit agreement. Under the credit agreement, as amended, the Company's Revolving Credit Facility and Term Loan A (TLA) matures on June 30, 2021 and Term Loan B (TLB) matures on June 30, 2023.

In connection with the amendment, an additional $441 million of the Company's TLA was borrowed with the proceeds used to reduce a portion of TLB. The credit agreement, as amended, consists of a $500 million Revolving Credit Facility, $1,183 million TLA and $400 million TLB. Following the amendment, the interest rate for the outstanding indebtedness of approximately $1,183 million under TLA is LIBOR + 2.00% (subject to adjustment based on the existing leveraged based pricing grid) and the interest rate for the outstanding indebtedness of $400 million under TLB is LIBOR + 2.75% with no LIBOR floor.

The amendment also increased the Company's ability to incur additional secured debt under incremental credit facilities by $300 million to $400 million. The Company also amended its financial maintenance covenants by increasing the maximum consolidated net total leverage ratio test to (i) 4.50:1.00 through December 31, 2016 (from 4.00:1.00) and (ii) 4.00:1.00 thereafter. Mandatory prepayments of TLA are reduced to 5.00% per annum and remain at 1.00% per annum for TLB. Certain other covenants under the credit agreement were amended to provide for greater operational and financial flexibility to the Company.

Further information can be found in Booz Allen Hamilton Holding Corporation's Current Report on Form 8-K filed with the SEC on July 18, 2016.

About Booz Allen Hamilton

Booz Allen Hamilton (NYSE: BAH) has been at the forefront of strategy and technology for more than 100 years. Today, the Company provides management and technology consulting and engineering services to leading Fortune 500 corporations, governments, and not-for-profits across the globe. Booz Allen partners with public and private sector clients to solve their most difficult challenges through a combination of consulting, analytics, mission operations, technology, systems delivery, cybersecurity, engineering, and innovation expertise.

With international headquarters in McLean, Virginia, the Company employs about 22,600 people globally, and had revenue of $5.41 billion for the 12 months ended March 31, 2016. To learn more, visit www.boozallen.com.

BAHPR-FI

Booz Allen Hamilton
Media Relations
James Fisher, 703-377-7595
or
Investor Relations
Curt Riggle, 703-377-5332

Source: Booz Allen Hamilton

News Provided by Acquire Media