Universal Technical Institute, Inc. Announces New Revolving Line of Credit Agreement with Fifth Third Bank, JPMorganChase, Truist, Citi and PNC

Rhea-AI Summary

Universal Technical Institute (NYSE: UTI) entered into a new senior secured revolving credit agreement with a bank syndicate led by Fifth Third Bank, with JPMorgan Chase, Truist, Citi and PNC as lenders. The facility replaces the prior Fifth Third credit facility and increases total revolving capacity to $200 million from $125 million, including a $15 million swingline sublimit and a $75 million letter of credit sublimit, up from $20 million.

The agreement also allows up to $75 million in uncommitted incremental facilities and carries a five-year term expiring in August 2031. According to Universal Technical Institute, the revolver is expected to support working capital, internal initiatives, acquisitions and other activities tied to its North Star Strategy.

Positive

• Revolving credit facility increased to $200 million from $125 million
• Letter of credit sublimit raised to $75 million from $20 million
• Incremental facility capacity of up to $75 million added
• Five-year term with maturity extended to August 2031
• Expanded banking syndicate including Fifth Third, JPMorgan Chase, Truist, Citi and PNC

Negative

• None.

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New agreement underscores long-term confidence and commitment by renowned financial institutions in company's business model and outlook for its North Star Strategy

PHOENIX, Aug. 18, 2026 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), a national leader in workforce solutions for transportation, skilled trades, healthcare and dental, today announced that it has entered into a new credit agreement with Fifth Third Bank, National Association, as lender and as administrative agent, joint lead arranger and sole bookrunner, JPMorgan Chase Bank, N.A. as lender and joint lead arranger, Truist Bank as lender and Truist Securities, Inc. as joint lead arranger, and Citibank, N.A. and PNC Bank, National Association, as lenders.

The new credit agreement, which refinances and replaces the Company's existing credit facility with Fifth Third Bank in its entirety, provides for a senior secured revolving credit facility of $200 million (up from $125 million in the existing facility), with a sublimit of $15 million for swingline loans and $75 million for letters of credit (up from $20 million in the existing facility). The new facility also includes capacity for uncommitted incremental facilities, whether in the form of incremental term facilities or an increase to the existing revolving facility, of up to an aggregate amount for all incremental facilities of $75 million. The facility has a five-year term expiring in August 2031.

"This new revolving credit facility is another significant milestone in Universal Technical Institute's successful financial evolution, and we are very pleased with the terms of the agreement and the incremental partnerships of this bank syndicate," said Bruce Schuman, EVP, Chief Financial Officer, Universal Technical Institute, Inc. "It underscores the confidence these respected firms have in our company as we execute our North Star Strategy to address America's labor shortages, and puts at our disposal the expertise and resources of some of the country's leading financial institutions."  

The company expects to use the revolving credit facility to support both current and future business needs, which may include working capital management and internal initiatives, acquisitions and other activities related to its North Star Strategy of growth, diversification and optimization.

Additional details of the agreement are included in the Company's 8-K, filed today.

About Universal Technical Institute, Inc.
Founded in 1965, Universal Technical Institute, Inc. (NYSE: UTI) is a national leader in workforce solutions for transportation, skilled trades and healthcare/dental education programs. The company's industry-aligned programs are offered at 35 campuses nationwide and online under the brands Universal Technical Institute (UTI) and Concorde Career Colleges and include auto/diesel, aviation, welding, HVACR, electrical and energy, allied health, dental, nursing, patient care and diagnostic training. For more information, visit www.uti.edu or www.concorde.edu; LinkedIn at @UniversalTechnicalInstitute and @Concorde Career Colleges; or X at @news_UTI and @ConcordeCareer.

Media Contact: Susan Aspey, saspey@uti.edu

Investor Contact: Matt Kempton, mkempton@uti.edu 

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SOURCE Universal Technical Institute, Inc.

FAQ

What is the size of Universal Technical Institute's (NYSE: UTI) new revolving credit facility?

Universal Technical Institute’s new revolving credit facility is $200 million. According to Universal Technical Institute, this senior secured revolver replaces its previous $125 million facility and is intended to support working capital, internal initiatives, acquisitions and other activities within its North Star Strategy.

How does Universal Technical Institute's new credit agreement with Fifth Third and others differ from its prior facility?

The new agreement increases the revolver to $200 million from $125 million. According to Universal Technical Institute, it also lifts the letter of credit sublimit to $75 million from $20 million and introduces up to $75 million in uncommitted incremental facilities.

When does Universal Technical Institute's new $200 million revolving credit facility mature?

The new revolving credit facility has a five-year term expiring in August 2031. According to Universal Technical Institute, this longer-dated senior secured facility refinances and fully replaces the company’s previous credit agreement with Fifth Third Bank.

Which banks are included in Universal Technical Institute's new revolving credit facility announced on August 18, 2026?

The facility is led by Fifth Third Bank, with JPMorgan Chase, Truist, Citibank and PNC as lenders. According to Universal Technical Institute, Fifth Third acts as administrative agent, joint lead arranger and sole bookrunner in the new syndicated agreement.

What is the purpose of Universal Technical Institute's new $200 million credit line (UTI)?

The facility is expected to support current and future business needs. According to Universal Technical Institute, uses may include working capital management, internal initiatives, acquisitions and other activities tied to its North Star Strategy of growth, diversification and optimization.

Does Universal Technical Institute's new credit agreement include incremental facility capacity?

Yes, the agreement permits up to $75 million in uncommitted incremental facilities. According to Universal Technical Institute, these may take the form of incremental term facilities or an increase to the existing revolving facility, providing additional financing flexibility.