TIC Solutions announced that it has successfully completed the repricing of its approximately $1.6 billion First Lien Term Loan, lowering its borrowing costs while maintaining the existing maturity schedule and key credit agreement terms.
The repriced First Lien Term Loan now carries an interest rate of SOFR plus 250 basis points, representing a 25 basis point reduction in the applicable margin. The loan’s maturity date remains July 30, 2031, and all other material provisions of the credit agreement remain unchanged.
According to the company, the transaction is expected to reduce annual cash interest expense by approximately $4 million, providing additional financial flexibility. The repricing reflects continued lender support and demand for the company’s debt.
TIC Solutions is a provider of technology-enabled asset integrity, engineering, and geospatial services, serving clients across industrial, infrastructure, energy, utilities, construction, commercial real estate, and government markets. The company operates through three business segments: Inspection and Mitigation, Consulting Engineering, and Geospatial.
The company employs more than 12,000 professionals across over 250 locations and provides services throughout the asset lifecycle, including planning, design, commissioning, compliance, asset integrity, engineering advisory, and geospatial intelligence solutions.
KEY QUOTES:
“The successful repricing of our term loan reflects solid market demand and lender confidence in TIC Solutions. This repricing is expected to reduce annual cash interest expense by approximately $4 million and enhances our financial flexibility.”
Kristin Schultes, Chief Financial Officer, TIC Solutions
