ManpowerGroup Secures New $600 Million Five-Year Revolving Credit Facility

Reuters12-17
ManpowerGroup Secures New $600 Million Five-Year Revolving Credit Facility

ManpowerGroup Inc. has entered into a new five-year, $600 million revolving credit agreement with a syndicate of lenders, with JPMorgan Chase Bank, N.A. serving as Administrative Agent. This new credit facility replaces the company's previous $600 million revolving credit agreement. The agreement allows for an increase in commitments of up to $300 million under certain circumstances and includes revised allowances for restructuring and related charges in covenant calculations. The agreement includes customary restrictive covenants and financial requirements, such as leverage and fixed charge coverage ratios. The previous credit agreement, dated May 27, 2022, was terminated with no early termination penalties incurred.

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