Universal Technical Institute, Inc. (NYSE: UTI) has entered into a new revolving credit agreement with Fifth Third Bank, JPMorgan Chase Bank, Truist Bank, Citibank and PNC Bank, according to a company statement dated Aug. 18, 2026.

The new senior secured revolving credit facility provides $200 million in borrowing capacity, up from $125 million under the company's previous facility with Fifth Third Bank, which the new agreement replaces in its entirety. The facility includes a $15 million sublimit for swingline loans and a $75 million sublimit for letters of credit, increased from $20 million previously. The agreement also includes capacity for uncommitted incremental facilities of up to $75 million in aggregate. The facility carries a five-year term expiring in August 2031.

Fifth Third Bank serves as lender, administrative agent, joint lead arranger and sole bookrunner. JPMorgan Chase Bank acts as lender and joint lead arranger, Truist Bank as lender and Truist Securities as joint lead arranger, with Citibank and PNC Bank participating as lenders.

"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 and Chief Financial Officer of Universal Technical Institute.

The company said it expects to use the facility for working capital management, internal initiatives, acquisitions and other activities. Additional details were filed in an 8-K with regulators on the same date.

Universal Technical Institute, founded in 1965 and headquartered in Phoenix, operates 35 campuses nationwide under the Universal Technical Institute and Concorde Career Colleges brands.