IES Holdings (IESC) said Wednesday it revised its credit and security deal, doubling its revolving credit facility to $300 million with a maturity date of Jan. 21, 2030.
The revision moves IES Holdings to a cash flow-based facility, increasing borrowing capacity relative to the previous asset-based model, the company said.
IES CEO Jeff Gendell said the expanded facility will support general corporate purposes, acquisitions, stock buybacks, and other investments.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.