Kforce secures $100 million of fixed-rate debt under credit facility

By Wendy Van Sickle

Columbus, Ohio, March 18 – Kforce Inc. secured $100 million in debt for up to five years under its existing credit facility last week at a fixed rate of 1.86%, according to a news release.

The company said it secured the debt as a proactive measure to mitigate liquidity risk in the current market.

The company said its board of directors also approved increasing its remaining share repurchase authorization by about $70 million to $100 million and that Kforce also entered into a corporate 10b5-1 trading plan, allowing it to repurchase stock through the duration of its current blackout period.

Kforce is a Tampa, Fla.-based staffing firm.

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