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JPMorgan Chase Agents $90MM Refi of DHI Group Credit Facilities

November 16, 2018, 07:00 AM
Filed Under: Specialty Industries

DHI Group, Inc. announced that it refinanced its existing revolving credit facility and reduced the size from the $150 million of the original revolver to $90 million. The new facility matures in 2023, replacing the original one which was to mature in 2020. The pricing structure of the new facility is materially unchanged from the original one. The reduction in the facility size reflects further optimization of the Company's capital structure following completion of the divestitures of its five non-core businesses and closure of Dice Europe.

"We have transitioned to being a more streamlined company and we are resizing our credit facility to reflect this," said Luc Gregoire, Chief Financial Officer of DHI. "The fundamentals of our business are showing solid improvement and we believe that a smaller revolver size, complemented by our strong balance sheet, will provide ample liquidity for our business needs and reduce our borrowing costs over the next five years."

JPMorgan Chase Bank, N.A., BMO Harris Bank N.A. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint lead arrangers and joint bookrunners for the transaction and JPMorgan Chase Bank, N.A. continues to act as Administrative Agent.

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