Lincoln Educational Services Increases Credit Facility to

Lincoln Educational Services Corporation has entered into an amended and restated revolving credit facility with Fifth Third Bank as lender and administrative agent, with Flagstar Bank, Provident Bank, and Santander Bank as lenders. The facility increases the aggregate principal amount from $60 million to $125 million.

The amended credit line includes a $10 million letter of credit sublimit and a $25 million accordion feature. It is a five-year revolving facility that matures on April 11, 2031. The company said the additional $65 million of liquidity enhances financial flexibility to execute growth initiatives and meet long-term operating objectives.