Federal Signal Corporation, a leader in environmental and safety solutions, announced the completion of a new five-year $800 million credit facility, to replace its existing $500 million credit facility. The new facility is comprised of a $675 million revolving credit facility and a $125 million term loan facility. The arrangement also provides the Company with the ability to further expand its borrowing capacity by up to the greater of (i) $400 million and (ii) 100% of Consolidated EBITDA for the applicable four-quarter period preceding such expansion notice, subject to approval by applicable lenders.

The syndication of the new facility was completed with Wells Fargo Securities, PNC Capital Markets and Truist Securities acting as Joint Lead Arrangers and Joint Bookrunners, PNC Bank and Truist Bank as Syndication Agents, and JPMorgan Chase Bank and The Toronto Dominion Bank, New York Branch as Documentation Agents. Wells Fargo Bank will serve as Administrative Agent, Swingline Lender and Issuing Lender.

Jennifer L. Sherman, Federal Signal's President and Chief Executive Officer, commented, "We are extremely pleased to announce this new credit facility, which provides greater financial flexibility to invest in internal growth initiatives and pursue additional acquisitions. The terms of the new facility are more favorable to the Company, reflecting our strong cash flow and balance sheet. This marks another important milestone for the Company, as we continue to execute on our strategic long-term growth objectives."