Everus Construction Secures $477.5M Term Loan in JPMorgan-Led Refinancing
Everus Construction Group has secured significant funding through a refinancing and upsizing of its senior secured facilities. The company entered into a First Amendment to its Credit Agreement, led by JPMorgan Chase Bank as administrative agent and collateral agent.
The amended agreement provides $477.5 million in term loans and $350 million in revolving commitments. These funds will be used to refinance prior loans, support the Epsilon Industries acquisition, cover related fees, and fund working capital and general corporate purposes.
The refinancing is a major development for Everus Construction Group, which has faced challenges in the past. The company's ability to secure significant funding through this deal demonstrates its resilience in the current market.