Print Page  |  Close Window

Press Release

Corporate Executive Board Announces New Credit Facility

ARLINGTON, Va., March 18, 2011 /PRNewswire via COMTEX/ --

The Corporate Executive Board (CEB) (NYSE: EXBD) today announced that it has entered into a five-year, $100 million senior unsecured revolving credit facility with a syndicate of banks led by Bank of America and JP Morgan Chase. While funds available under the credit agreement can be used for general corporate purposes, including potential acquisitions, the company has no immediate plans to draw against the facility.

"Our strong cash position and positive cash flow profile continue to provide ample liquidity for our business, and we have no near-term operating or investing plans that would require additional funding," said CEB Chairman and CEO, Tom Monahan. "Given current favorable market conditions, we are taking advantage of the opportunity to enhance our capital structure and financial flexibility with an attractive long-term source of financing."

For more information about the Corporate Executive Board, please visit www.executiveboard.com.

About the Corporate Executive Board

The Corporate Executive Board drives faster, more effective decision making among the world's leading executives and business professionals. As the premier, network-based knowledge resource, The Corporate Executive Board provides customers with the authoritative and timely guidance needed to excel in their roles, take decisive action and improve company performance. Powered by an executive network that spans over 50 countries and represents approximately 85 percent of the world's Fortune 500 companies, The Corporate Executive Board offers unique research insights along with an integrated suite of exclusive tools and resources that enable the world's most successful organizations to deliver superior business outcomes. For more information, visit www.exbd.com.

SOURCE Corporate Executive Board