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Sterling Infrastructure Expands Credit Facility to $1.5 Billion

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Sterling Infrastructure (STRL) said Wednesday it amended its credit agreement to increase its available revolving borrowing capacity to $1.5 billion.

The updated terms extend the maturity of the facility to July 2031, and the company plans to use the funds to pay off older debt, make corporate acquisitions, and general corporate purposes, the company said.

The amendment also lowers overall pricing margins and expands the baseline incremental facility to $500 million from $400 million, Sterling Infrastructure said.

Shares of the company were down 2.1% in Wednesday trading.

Price: $660.45, Change: $-13.94, Percent Change: -2.07%

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