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Upbound Group, Inc. (NASDAQ:UPBD), a $1.4 billion market cap company trading at $24.43, announced Tuesday that it has amended its existing Term Loan Credit Agreement, extending the maturity date for its outstanding loans to August 19, 2032, according to a statement based on a Securities and Exchange Commission filing.
The amendment, which took effect Tuesday, also provides Upbound Group with approximately $77 million in incremental loan commitments. All of these additional funds were drawn on the same day, bringing the company’s total aggregate borrowings under the credit agreement to $875 million.
Upbound Group stated that the proceeds from the incremental borrowings will be used to pay fees and expenses related to the amendment, as well as for working capital and other general corporate purposes. These may include repayment of a portion of the outstanding loans under the company’s revolving credit facility.
The amendment was made with JPMorgan Chase (NYSE:JPM) Bank, N.A. acting as administrative agent and involved certain subsidiaries of Upbound Group as parties to the agreement.
The company’s common stock is listed on the Nasdaq Global Select Market under the ticker UPBD.
This information is based on a press release statement filed with the SEC.
In other recent news, Upbound Group Inc. announced its second-quarter 2025 earnings, reporting an earnings per share (EPS) of $1.12, which exceeded analysts’ expectations of $1.05. The company also reported revenue of $1.16 billion, surpassing the anticipated $1.14 billion and reflecting a 7.5% increase compared to the previous year. Despite the positive earnings and revenue results, Upbound Group’s stock experienced a decline in the regular session. These recent developments highlight the company’s ability to outperform earnings forecasts. Investors might find the revenue growth noteworthy as it indicates a positive trend year-over-year. Analysts had projected lower figures, making the actual results a pleasant surprise for the market. The company’s financial performance in this quarter demonstrates its strong operational capabilities.
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