TaskUs, Inc. 8-K

What Happened

• On March 11, 2026 TaskUs, Inc. subsidiaries (TU MidCo and TU BidCo, with certain guarantors) entered into a Second Amended and Restated Credit Agreement with lenders led by JPMorgan Chase Bank, N.A. The Borrower drew $500 million of term loans and received $100 million of revolving commitments to refinance prior borrowings, pay transaction fees, and fund a previously announced special cash dividend to stockholders. The agreement amends and restates the prior credit agreement (originally dated September 25, 2019; amended September 7, 2022).

Key Details

• Amounts: $500,000,000 term loans drawn; $100,000,000 revolving commitments available.
• Interest: Borrower may choose Term SOFR + 2.75% (Term SOFR floor 0.00%) or alternate base rate + 1.75% (base rate floor 1.00%).
• Repayment & maturity: Quarterly amortization begins with quarter ending Sep 30, 2026 (1.25% of original term loan per quarter through Mar 31, 2029; 1.875% per quarter Jun 30, 2029–Mar 31, 2030; 2.50% per quarter thereafter). Maturity is five years from the amendment date (March 11, 2031).
• Covenant: Financial maintenance covenant capped at consolidated total net leverage ratio of 3.25x (tested quarterly). Collateral and most other terms remain substantially the same as the prior agreement.

Why It Matters

• This filing creates a new, material debt obligation for TaskUs and changes its debt profile: it replaces prior credit facilities, establishes scheduled amortization, and sets a leverage test (3.25x) that the company must meet each quarter. The new facility also frees liquidity for the announced special dividend while preserving a $100M revolver for working capital and permitted acquisitions. Investors should note the interest rate mechanics (SOFR vs. base rate) affect borrowing cost exposure, and the covenant and amortization schedule affect near- and medium-term cash flow and capital flexibility.