By Chris Wack
IES Holdings shares were up 8.1% to $298.71 after the company raised the commitment amount of its revolving credit facility to $300 million from $150 million, and extended the maturity date to Jan. 21, 2030.
The Houston company also expanded the size of the lending group.
The amended credit agreement transitions the company to a cash flow-based facility, allowing increased borrowing capacity compared with the previous asset-based structure.
The stock hit its 52-week high of $320.08 on Dec. 2, and is up 248% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 22, 2025 10:12 ET (15:12 GMT)
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