STAMFORD, Conn.–(BUSINESS WIRE)–Information Services Group (Nasdaq: III), a leading global technology research and advisory firm, today announced it has successfully amended its $140 million credit facility at more favorable terms, to improve the firm’s financial flexibility.
The new credit agreement amends the previous agreement entered into on March 10, 2020. Key updates include:
- Converting the previous term and revolving loan into an all-revolving credit facility
- Eliminating $4.3 million of mandatory annual principal payments due in 2023 and 2024
- Extending the maturity date of the previous agreement by three years, to February 2028
“Our amended credit facility greatly enhances our financial flexibility and offers further validation of our robust business performance that enabled these enhancements,” said Michael P. Connors, chairman and CEO of ISG. “We thank our lenders for their partnership and confidence in our ability to deliver long-term sustainable growth and value for our shareholders.”
BofA Securities Inc. was the Sole Lead Arranger and Sole Bookrunner on the transaction.
Additional details about the amended credit agreement can be found in the Form 8-K ISG filed today with the U.S. Securities and Exchange Commission, a link to which can be found on ISG’s website.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
