PAE - PAE secures new credit facility

PAE (PAE) has closed a new senior secured credit facilities.The credit agreements value of $740M term loan facility maturing in October 2027 priced at LIBOR plus a spread of 4.50%, a $150M delayed draw term loan facility maturing in October 2027 priced at LIBOR plus a spread of 4.50%; and, a $175 million senior secured revolving credit facility maturing in October 2025 priced at LIBOR plus a spread of 1.75% to 2.25%.The loans under the credit agreements are secured by the company's assets.Net proceeds from the new credit agreement will be used to repay the outstanding debt, and remaining for general corporate purposes, potential mergers and acquisitions, and transaction fees and expenses.

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PAE secures new credit facility