ManpowerGroup renews $600 million credit facility

ManpowerGroup Inc. (NYSE: MAN) entered into a new credit agreement on December 15, 2025, replacing its previous $600 million revolving credit facility with a new five-year facility of the same amount.

The credit agreement was established with a syndicate of lenders and JPMorgan Chase Bank, N.A. serving as administrative agent. The facility allows the company to request increases in revolving credit commitments of up to $300 million under certain circumstances.

The new agreement includes increased allowances for restructuring and related charges that can be added back to earnings for covenant calculations. Other terms remain generally consistent with the company's previous revolving credit facility.

The credit agreement contains standard restrictive covenants covering management and operations, including limits on restricted payments and subsidiary debt. It also includes asset pledging restrictions and requires compliance with leverage ratio and fixed charge coverage ratio requirements.

Standard events of default provisions are included in the agreement, covering payment defaults, material inaccuracies in representations and warranties, covenant defaults, bankruptcy proceedings, certain monetary and non-monetary judgments, change of control situations, and ERISA defaults.

The information was disclosed in a company statement regarding the credit facility arrangement.

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