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Bank of America Upsizes Bowman’s Revolving Credit Facility to $70MM

August 07, 2023, 07:59 AM
Filed Under: Engineering
Related: Bank of America

Bowman Consulting Group completed a First Amendment to Amended and Restated Credit Agreement with respect to the Company’s revolving credit facility with Bank of America. The First Amendment increases the maximum principal amount under the Revolver from $50 million to $70 million, modifies certain provisions related to interest rate spreads and unused fees, and extends the term to July 31, 2025. Other general terms of the Revolver remained unchanged.

“As we continue to execute on our strategic growth initiative, our credit facility allows us to be nimble and capitalize on opportunities as they present themselves,” said Gary Bowman, Bowman’s Chairman and CEO. “We appreciate our long-standing partnership with Bank of America.”

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