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CACI International Inc (NYSE:CACI) announced Monday that it has entered into a Second Amended and Restated Credit Agreement with Bank of America, N.A. and other lenders. The agreement, signed on November 25, 2025, replaces a previous facility dated December 13, 2021.
Under the new agreement, CACI International secured a $1.25 billion term loan facility and a $2.0 billion revolving credit facility, both maturing on November 25, 2030. The revolving credit facility includes subfacilities comprising $150 million for same-day swing line loan borrowings and $25 million for letters of credit.
The company retains the right to increase its term loan or revolving credit facilities, or to incur additional indebtedness, subject to certain leverage and coverage ratios specified in the agreement. These ratios include a maximum Consolidated First Lien Net Leverage Ratio of 3.75 to 1.00 for pari passu secured indebtedness, a maximum Consolidated Senior Secured Net Leverage Ratio of 4.25 to 1.00 for junior secured indebtedness, and a maximum Consolidated Total Net Leverage Ratio of 5.00 to 1.00 for unsecured indebtedness, or a minimum Consolidated Interest Coverage Ratio of 2.00 to 1.00.
Obligations under the agreement are secured by substantially all assets of CACI International and its material domestic subsidiaries, and are guaranteed by those subsidiaries, subject to customary exceptions.
Interest rates on loans under the new facilities are floating, based on a base rate or Term SOFR rate plus an applicable margin determined by CACI International’s Consolidated Total Net Leverage Ratio.
The agreement requires compliance with financial covenants, including limits on leverage and minimum interest coverage, and includes customary restrictions on additional indebtedness, liens, investments, asset transfers, dividends, and certain business combinations, except as permitted by the agreement.
This information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, CACI International reported impressive financial results for the first quarter of fiscal year 2026. The company achieved an adjusted diluted earnings per share (EPS) of $6.85, which surpassed Wall Street’s forecast of $6.14, representing an 11.56% positive surprise. Revenue for the quarter was $2.3 billion, slightly exceeding the expected $2.26 billion. In addition to the earnings announcement, Truist Securities raised its price target for CACI International to $735 from $600 while maintaining a Buy rating. Truist’s decision to increase the price target was based on rolling forward its valuation to calendar year 2027 estimates and applying a higher EV/EBITDA multiple of 15x, up from the previous 14x. These developments highlight a period of strong performance and positive outlook for CACI International.
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