ManTech amends $500 million credit facility, extending maturity

By Jennifer Chiou

New York, June 19 – ManTech International Corp. amended and restated its $500 million credit agreement with Bank of America, NA as administrative agent, pushing the maturity date of the revolver to June 13, 2019, according to an 8-K filed with the Securities and Exchange Commission.

The company also changed the following financial covenants: the maximum consolidated senior secured leverage ratio was increased to 3.5 to 1.0 from 3.0 to 1.0, and the company is now required to maintain a minimum consolidated coverage ratio of 2.5 to 1.0, versus a minimum consolidated fixed-charge coverage ratio of 1.5 to 1.0 in the original agreement.

The maximum consolidated total leverage ratio is unchanged at 4.5 to 1.0.

ManTech is a Fairfax, Va.-based provider of national security programs.

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