Acuren Corporation Announces Successful Debt Repricing
Posted: 2025-1-20
Source:
Business Wire
TOMBALL, Texas--(BUSINESS WIRE)--Acuren Corporation (the "Company" or "Acuren") (OTCQX: TICA), a leading provider of asset integrity services, today announced that it had successfully completed the repricing of its $773 million term loan.
The term loan was repriced at SOFR + 275, representing a 75 basis point reduction of the applicable margin. This reduction is expected to reduce cash interest expense by approximately $5.8 million annually. The term loan maturity date of 2031, and all other material provisions under the credit agreement remain unchanged.
Kristin Schultes, Chief Financial Officer, commented, "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."
About Acuren:
Acuren is a leading provider of critical asset integrity services. The company operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recurring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection and Certification (TIC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. More information can be found at https://www.acuren.com/.
The term loan was repriced at SOFR + 275, representing a 75 basis point reduction of the applicable margin. This reduction is expected to reduce cash interest expense by approximately $5.8 million annually. The term loan maturity date of 2031, and all other material provisions under the credit agreement remain unchanged.
Kristin Schultes, Chief Financial Officer, commented, "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."
About Acuren:
Acuren is a leading provider of critical asset integrity services. The company operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recurring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection and Certification (TIC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. More information can be found at https://www.acuren.com/.
