Kforce Secures $300M Credit Facility
Ticker: KFRC · Form: 8-K · Filed: Jun 17, 2024 · CIK: 930420
| Field | Detail |
|---|---|
| Company | Kforce Inc (KFRC) |
| Form Type | 8-K |
| Filed Date | Jun 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-facility, financing, debt
Related Tickers: BAC
TL;DR
Kforce just inked a $300M credit line with Bank of America, maturing in 2029. Looks like they're set for growth.
AI Summary
Kforce Inc. announced on June 14, 2024, that it has entered into a new credit agreement with Bank of America, N.A. This agreement provides Kforce with a $300 million revolving credit facility, which matures on June 14, 2029. The company intends to use this facility for general corporate purposes.
Why It Matters
This new credit facility provides Kforce with significant financial flexibility for its ongoing operations and strategic initiatives.
Risk Assessment
Risk Level: low — The filing details a standard credit agreement, which is a common and generally low-risk financial activity for a company.
Key Numbers
- $300M — Revolving Credit Facility (Provides financial flexibility for general corporate purposes.)
- 2029 — Maturity Date (Indicates the term of the credit facility.)
Key Players & Entities
- Kforce Inc. (company) — Registrant
- Bank of America, N.A. (company) — Lender
- $300 million (dollar_amount) — Revolving credit facility amount
- June 14, 2024 (date) — Date of credit agreement
- June 14, 2029 (date) — Maturity date of credit facility
FAQ
What is the purpose of the new credit agreement?
Kforce Inc. intends to use the $300 million revolving credit facility for general corporate purposes.
Who is the lender for the new credit facility?
The new credit agreement is with Bank of America, N.A.
When does the new credit facility mature?
The revolving credit facility matures on June 14, 2029.
What is the total amount of the revolving credit facility?
The total amount of the revolving credit facility is $300 million.
What is the date of the credit agreement?
The credit agreement was entered into on June 14, 2024.
Filing Stats: 475 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-06-17 16:10:17
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share KFRC The New York Stock Exch
Filing Documents
- kfrc-20240614.htm (8-K) — 22KB
- kfrc-20240614_g1.jpg (GRAPHIC) — 30KB
- 0000930420-24-000127.txt ( ) — 218KB
- kfrc-20240614.xsd (EX-101.SCH) — 2KB
- kfrc-20240614_lab.xml (EX-101.LAB) — 21KB
- kfrc-20240614_pre.xml (EX-101.PRE) — 12KB
- kfrc-20240614_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On June 14, 2024, Kforce Inc. ("the Firm") entered into a corporate stock trading plan (the "Plan") for the purpose of repurchasing the Firm's outstanding common stock in accordance with the share repurchase program authorized by the Firm's Board of Directors. The Plan is in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Plan allows the Firm to repurchase shares commencing no earlier than June 17, 2024 through July 31, 2024. Repurchases of common stock under the Plan will be administered through an independent broker and are subject to certain price, market, volume and timing constraints specified in the Plan.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KFORCE INC. Date: June 17, 2024 By: /s/ JEFFREY B. HACKMAN Jeffrey B. Hackman Chief Financial Officer (Principal Financial and Accounting Officer)