CRA expands credit facility to $400M, adds two new lenders
What's the deal? CRA International, the parent of consulting firm Charles River Associates, has increased and extended its credit facility to $400 million through a six-bank lending syndicate. The five-year facility comprises a $75 million term loan and a $325 million revolving credit line.
Why now? The new agreement replaces a $300 million revolving facility that was scheduled to mature in August 2027. CRA will use the proceeds to repay borrowings under the prior facility, support working capital, invest in continued growth and fund general corporate purposes.
Who's involved? The lending group includes longtime banking partners Bank of America and Eastern BankDealroom has a profile for this one. Try Dealroom →. BMODealroom has a profile for this one. Try Dealroom → and M&T Bank joined as new lenders.
The signal. The expanded facility gives CRA additional liquidity and financial flexibility as it invests in its global economic, financial and management advisory operations.
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Image credit: CRA International
