EXL (NASDAQ: EXLS) has closed a new $1 billion senior secured credit facility, replacing its previous $600 million borrowing limit, according to a press release issued Aug. 18, 2026.

PNC Bank, N.A. serves as administrative agent on the facility, with Bank of America, N.A., JPMorgan Chase Bank, N.A., and TD Bank, N.A. acting as joint lead arrangers. The five-year agreement expires on Aug. 18, 2031.

The credit facility includes a $400 million term loan and permits revolver borrowings of up to $600 million. It also contains an accordion feature allowing the facility to expand by the greater of $470 million or 100% of EBITDA for the trailing four quarters. The agreement provides greater covenant flexibility compared to the prior facility.

Maurizio Nicolelli, chief financial officer of EXL, said the expanded capacity is intended to support mergers and acquisitions and continued capital returns. "We have consistently prioritized a strong balance sheet, and this expanded debt capacity gives us the flexibility to extend our competitive advantage through targeted mergers and acquisitions while continuing to return capital to our shareholders under our $500 million share repurchase authorization," Nicolelli said.

EXL is headquartered in New York and employs approximately 68,000 people across six continents.