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Stock impact report

Sterling Announces New $700 Million Credit Facility and $100 Million Share Repurchase Program

Sterling Check Corp. (STER) 
Company Research Source: GlobeNewswire
Credit facility enhances capital structure and financial flexibility while reducing interest expense Share repurchase program expands capital allocation optionality and is expected to be funded through existing cash and future free cash flow NEW YORK, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Sterling Check Corp. (NASDAQ: STER) (“Sterling” or “the Company”) today announced a $700 million refinancing of the Company’s credit facility and the authorization of a $100 million share repurchase program. These distinct yet complementary strategic initiatives will enhance Sterling’s financial position and flexibility by optimizing the Company’s capital structure and allocation capacity. “We are pleased to announce a new 5-year credit facility, offering us increased capacity to invest in organic revenue growth and M&A while maintaining a healthy balance sheet with low leverage,” said Peter Walker, Chief Financial Officer. “We are particularly proud that the refinancing was over-subscribed despite Show less Read more
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