Acuren Corporation (OTCQX: TICA), a leading provider of asset integrity services, has successfully repriced its $773 million term loan. The repricing, now set at SOFR + 275, represents a 75 basis point reduction in the applicable margin and is expected to generate significant savings by reducing cash interest expense by approximately $5.8 million annually.
Despite the reduction in interest rates, the term loan's maturity date remains unchanged at 2031, along with all other material provisions under the credit agreement. This development reflects Acuren’s strategic focus on maintaining a robust financial position while driving long-term shareholder value.
Kristin Schultes, Chief Financial Officer of Acuren, commented on the successful repricing: “The successful repricing of our term loan reflects solid market demand and strong lender confidence in Acuren. Reducing our annual interest expense strengthens our financial position and flexibility and enhances our ability to maximize shareholder value.”
This achievement underlines Acuren’s commitment to operational efficiency and financial prudence, ensuring the company continues to lead in asset integrity services while delivering value to its stakeholders.
Reference: https://www.businesswire.com/news/home/20250116541181/en/Acuren-Corporation-Announces-Debt-Repricing
