Ameresco, Inc. (AMRC) — Current Report

Key Insights

• Ameresco, Inc. entered into Amendment No. 2 to its Senior Secured Loan Agreement, increasing the Term Loan by $45 million to a total of $140 million with new quarterly principal payment requirements.
• The company appointed Ms. Nicole A. Bulgarino and Mr. Louis P. Maltezos as Co-Presidents, and Mr. Peter Christakis as Chief Operating Officer, with the previous President, Mr. Sakellaris, stepping down to focus on his role as CEO and Chairman.
• The incremental Term Loan proceeds were used to repay the outstanding balance under the Revolving Credit Facility, resulting in $140 million outstanding under the increased Term Loan.