ExlService Holdings, Inc.

$1bn committed across 1 active facility, next covenant test Sep 30, 2026. EXLS

Services-Business Services, NEC

Recent changes

  1. Aug 18, 2026ExlService Holdings, Inc. signs $1bn CREDIT AGREEMENT, matures Aug 2031SEC ↗

Net leverage: when the limit steps, and which way the company's ratio has been moving.

3.96x1.95x-0.05x
Tested quarterly80.0%ratio 0.70x, estimated, vs 3.50x limit in force at Mar 31, 20263.50x
The Borrower will not permit the Total Net Leverage Ratio, determined for the four consecutive fiscal quarter period ending on the last day of each fiscal quarter, to be greater than 3.50:1.00.
Read the filing on sec.gov ↗
Tested quarterly640.3%ratio 22.21x, estimated, vs 3.00x limit in force at Mar 31, 20263.00x
The Borrower will not permit the Interest Coverage Ratio, determined for the four consecutive fiscal quarter period ending on the last day of each fiscal quarter, to be less than 3.00 to 1.00.
Read the filing on sec.gov ↗

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CREDIT AGREEMENT

Signed Aug 18, 2026

Committed
$1bn
Matures
Aug 2031
Agent
PNC Bank, National Association
TrancheSizeMaturesMargin
Revolving Credit Facility$600mAug 2031100–175 bps
Term Loan$400mAug 2031100–175 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility, Term Loan A).

LevelConditionMarginUnused fee
Level I< 0.75x100 bps13 bps
Level II≥ 0.75x but < 1.50x113 bps13 bps
Level III≥ 1.50x but < 2.25x125 bps15 bps
Level IV≥ 2.25x but < 3.00x150 bps20 bps
Level V≥ 3.00x175 bps25 bps

Lenders: PNC Capital Markets LLC, Bank of America, N.A., JPMorgan Chase Bank, N.A., TD Bank, N.A.

No amendments on file yet.

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