The latest announcement is out from Team ( (TISI) ).
Team, Inc. has successfully renegotiated its existing ABL credit facility with Eclipse Business Capital LLC and other lenders, leading to an extension of the maturity date from August 11, 2025, to September 30, 2027, and a reduction in the interest rate spread. This amendment enhances the Company’s borrowing base and establishes a $7.5 million minimum availability covenant, contingent upon meeting the fixed charge coverage ratio. The improved terms reflect Team, Inc.’s stronger financial and operational performance and are part of ongoing efforts to bolster the balance sheet and borrowing capacity.
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