Parsons Corporation has announced the refinancing of its existing term loan and revolving credit facility, originally set to mature in October 2025 and June 2026. On June 5, 2025, the company secured a $450 million unsecured term loan credit facility with an option to increase by up to $150 million. This new agreement allows Parsons to pay off its previous $350 million delayed draw term loan from September 2022. The refinanced term loan will bear interest based on a Term SOFR benchmark rate plus a margin or a base rate plus a margin, initially set at the middle of the specified range. The agreement includes customary financial covenants and allows for prepayment without premium or penalty, subject to certain fees.
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