Bowman Closes On $100 Million Revolving Credit Agreement
03 May 2024 - 9:00PM
Business Wire
Bowman Consulting Group Ltd. (“Bowman” or “the Company”)
(NASDAQ: BWMN), today announced it entered into a $100 million
aggregate revolving credit agreement with Bank of America, N.A, as
Administrative Agent, and TD Bank, N.A., as Syndication Agent (the
“Credit Agreement”). With a five-year term, the Credit Agreement
replaces the Company’s $70 million revolving line of credit with
Bank of America. The general provisions of the Credit Agreement are
similar to the predecessor credit facility.
“This expanded credit facility reflects our long-term
partnership with Bank of America and adds a new relationship in TD
Bank,” said Gary Bowman, Chief Executive Officer. “The new facility
further secures our ability to access capital as we continue to
execute on our strategic growth initiative.”
The Company will discuss the Credit Agreement in more detail at
its upcoming earnings conference call on May 7, 2024, at 9am
ET.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national
engineering services firm delivering infrastructure solutions to
customers who own, develop, and maintain the built environment.
With over 2,200 employees and more than 90 offices throughout the
United States, Bowman provides a variety of planning, engineering,
geospatial, construction management, commissioning, environmental
consulting, land procurement and other technical services to
customers operating in a diverse set of regulated end markets.
Bowman trades on the Nasdaq under the symbol BWMN. For more
information, visit bowman.com or investors.bowman.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502248542/en/
Investor Relations Contacts: Bruce Labovitz
ir@bowman.com
Betsy Patterson ir@bowman.com
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