ManpowerGroup restates facility for $600 million revolver due 2018

By Marisa Wong

Madison, Wis., Oct. 21 - ManpowerGroup Inc. amended and restated its five-year credit agreement dated Oct. 5, 2011 with Citibank, NA as administrative agent to lower revolving commitments to $600 million from $800 million, according to an 8-K filed Monday with the Securities and Exchange Commission.

The amended and restated agreement, completed on Oct. 15, permits an increase in total revolving commitments up to $800 million from $600 million.

The amendment also extends the termination date of the facility to Oct. 15, 2018 from Oct. 5, 2016 and provides two one-year extension options.

In addition, the pricing grid was amended to reduce the applicable margin and at certain debt ratings. However, no changes were made to the applicable margin at the company's current debt ratings, the filing noted.

Manpower is a Milwaukee-based employment services company.

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