Science Applications International Corp. (SAIC) has released an update.
Science Applications International Corporation (SAIC) has successfully amended its credit agreement, securing a new Tranche B3 loan facility of $510.25 million with an interest tied to the Term SOFR or a base rate plus a margin. This financial maneuver is aimed at refinancing existing loans, with a structured quarterly amortization set to start in July 2024 and a maturity date of February 2031. The company has also introduced a repricing fee condition for early repayments within the first six months, while post the initial period, repayments can be made without penalty, aligning with previous loan prepayment terms.
For further insights into SAIC stock, check out TipRanks’ Stock Analysis page.
