Huron Consulting Group Inc. (NASDAQ:HURN) Files An 8-K Entry into a Material Definitive Agreement

Huron Consulting Group Inc. (NASDAQ:HURN) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01. Entry into a Material Definitive Agreement.

On February 28, 2017, Huron Consulting Group Inc. (the
“Company”) and certain of the Company’s subsidiaries entered
into a first amendment (the “First Amendment”) to the Second
Amended and Restated Credit Agreement dated March 31, 2015 by and
among the Company, as borrower, certain subsidiaries of the
Company, as guarantors, the lenders identified therein and Bank
of America, N.A., as administrative agent and collateral agent.
Among other terms, the First Amendment increases the maximum
Consolidated Leverage Ratio allowed for certain fiscal quarters,
such that at the end of each fiscal quarter, the Consolidated
Leverage Ratio will not be greater than:
Fiscal Quarters
Fiscal Years
March 31
June 30
September 30
December 31
3.75:1.0
3.75:1.0
3.75:1.0
3.75:1.0
3.75:1.0
3.50:1.0
3.25:1.0
3.25:1.0
2019 and thereafter
3.50:1.0
3.25:1.0
3.25:1.0
3.25:1.0
The First Amendment also modifies the pricing structure to the
terms shown in the table below:
Revolving Loans and Term Loan
Pricing
Tier
Consolidated Leverage
Ratio
Eurodollar Rate Loans
Base Rate
Loans
Letter of
Credit Fee
Commitment
Fee
3.25:1.0
2.00%
1.00%
2.00%
0.30%
2.75:1.0 but 3.25:1.0
1.75%
0.75%
1.75%
0.25%
1.75:1.0 but 2.75:1.0
1.50%
0.50%
1.50%
0.20%
1.75:1.0
1.25%
0.25%
1.25%
0.15%
A copy of the First Amendment is attached hereto as Exhibit 10.1
and is incorporated by reference herein. The foregoing
description of the First Amendment is qualified in its entirety
by reference to the full text of the First Amendment.
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01. above is incorporated
herein by reference in this Item 2.03.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
10.1
Amendment No. 1 of the Credit Agreement, dated as of February
28, 2017, by and among Huron Consulting Group Inc., as
Borrower, certain subsidiaries, as Guarantors, and Bank of
America, N.A., as Administrative Agent for and on behalf of
the Lenders.


About Huron Consulting Group Inc. (NASDAQ:HURN)

Huron Consulting Group Inc. is a professional services firm focused on assisting clients with their business issues by delivering solutions to support their strategic objectives. The Company’s segments are Huron Healthcare, which provides advisory, consulting and technology solutions to national and regional hospitals and integrated health systems, academic medical centers, community hospitals and physician practices; Huron Education and Life Sciences, which provides management consulting services and software solutions to the higher education, academic medical center, pharmaceutical and medical device, and research industries; Huron Business Advisory, which provides services to the C-suite of middle market and organizations, institutions, law firms, investment banks and private equity firms, and All Other. It serves clients in healthcare, higher education, life sciences and commercial sectors. The Company also supports a range of electronic health record (EHR) systems.

Huron Consulting Group Inc. (NASDAQ:HURN) Recent Trading Information

Huron Consulting Group Inc. (NASDAQ:HURN) closed its last trading session down -0.35 at 41.80 with 133,471 shares trading hands.

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