On Assignment, Inc. (NYSE:ASGN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
(the Company), entered into an amendment (the Amendment) to its
credit agreement with Wells Fargo Bank, National Association
(Wells Fargo), as administrative agent, and the lenders party
thereto. The Amendment is described in Item 2.03 below and is
incorporated herein by reference.
Obligation Under an Off-Balance Sheet Arrangement of a Registrant
limit by $50.0 million from its original $150.0 million limit and
extended its maturity to five years from the closing date of the
Amendment; and (b) decreased the interest rate on the term B loan
facility by 50 basis points to LIBOR plus 2.25 percent and
removing the LIBOR floor. As of the closing date of the
Amendment, the amended credit agreement consists of: (i) a new
$656.0 million term B loan facility which matures on June 5,
2022; and (ii) a $200.0 million revolving loan facility, under
which it has no borrowings, including a $20.0 million swingline
subfacility and a $20.0 million sublimit for letters of credit,
which matures on February 21, 2022. The Company paid customary
fees and expenses associated with the transaction.
complete and is subject to, and qualified in its entirety by, the
full text of the Amendment, which is filed as Exhibit 10.1 and is
incorporated herein by reference.
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(d)
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Exhibits
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10.1
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Second Amendment to the Second Amended and Restated
Credit Agreement, dated as of February 21, 2017, among the Company, as Borrower, Wells Fargo, as Administrative Agent, and the other lenders party thereto |
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About On Assignment, Inc. (NYSE:ASGN)
On Assignment, Inc. is a provider of professionals in the technology, life sciences and creative sectors. The Company matches people into positions for contract, contract-to-hire and direct hire assignments. Its operating segments include the Apex Segment and the Oxford Segment. The Apex Segment provides a spectrum of technical and scientific professionals for contract, contract-to-hire and permanent placement positions to Fortune 1000 and mid-market clients across the United States. The Apex Segment businesses serve markets with a large and local pool, and provide a range of skills through a network of local offices. The Apex segment businesses include Apex Systems, LLC (Apex Systems), Lab Support, LLC (Lab Support) and Creative Circle, LLC (Creative Circle). The Oxford Segment provides staffing and consulting services in select skill and geographic markets, and its businesses include Oxford Global Resources, LLC (Oxford), CyberCoders, Inc. (CyberCoders) and Life Sciences Europe. On Assignment, Inc. (NYSE:ASGN) Recent Trading Information
On Assignment, Inc. (NYSE:ASGN) closed its last trading session down -0.30 at 48.44 with 194,786 shares trading hands.
