Atlas Enters Interest Rate Cap Agreement

  • Atlas Technical Consultants Inc ATCX has entered an interest rate cap transaction with JPMorgan Chase Bank, N.A., to mitigate the risk of potential interest rate fluctuations on the company's interest expense.
  • "Reducing leverage and continuing to simplify our capital structure remain a top priority for Atlas," stated CEO Joe Boyer.
  • As per the transaction, the variable portion of ATCX's interest expense tied to LIBOR is capped at 3.0%. JP Morgan will make payments to the company monthly to the extent that a specified benchmark rate of interest for the applicable month exceeds 3.0%.
  • The transaction is effective as of June 1, 2022, and has a maturity date of June 1, 2025.
  • Price Action: ATCX shares are trading lower by 9.40% at $6.36 on the last check Thursday.

Posted In: BriefsNews

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.