FTI CONSULTING, INC 8-K

What Happened

• On June 30, 2026, FTI Consulting, Inc. (FTI; ticker: FCN) entered into a Third Amendment and Restatement Agreement to its credit facilities, amending and restating the prior credit agreement. The amendment increases the company's unsecured revolving credit facility to a maximum of $1.5 billion and extends the revolver’s maturity to June 30, 2031. The company announced the agreement in a press release dated July 1, 2026.

Key Details

• Revolving Facility increased to up to $1.5 billion and maturity extended to June 30, 2031.
• Existing $300.0 million term loan remains outstanding (matures March 17, 2029).
• Borrowings bear interest at either a term or daily SOFR (plus margin) or a base rate (plus margin); applicable margins vary based on FTI’s credit ratings.
• Permits incremental facilities up to the greater of $500.0 million or 100% of consolidated EBITDA, plus additional incremental capacity so long as Consolidated Total Net Leverage Ratio ≤ 4.00:1.00. Obligations are unsecured and guaranteed by certain wholly‑owned U.S. subsidiaries. The agreement includes customary covenants and default provisions.

Why It Matters

• The amendment increases FTI’s near‑term liquidity capacity and pushes out the revolver maturity, giving the company more flexibility to manage cash needs and capital activities through mid‑2031. Investors should note covenant terms (including a maximum leverage ratio), variable interest margins tied to credit ratings, and that the term loan remains in place. The agreement may affect FTI’s borrowing costs and capital structure but does not, by itself, change reported earnings.