F.Y.I. Announces New Credit Facility; $297.5 Million Line of Credit Replaces Previous $175 Million Facility

Apr 05, 2001, 01:00 ET from F.Y.I. Incorporated

    DALLAS, April 5 /PRNewswire/ -- F.Y.I. Incorporated (Nasdaq: FYII), one of
 the nation's leading providers of business process outsourcing solutions,
 today announced its new $297.5 million line of credit.  This credit facility
 replaces the Company's previous $175 million facility.  Bank of America is
 acting as the arrangement agent, with SunTrust and Wells Fargo acting as co-
 agents.  Also, nine additional financial institutions are participating in the
 facility, which was over-subscribed from the $250 million initial offering.
     In addition to the increased capacity, favorable terms for F.Y.I. include
 the lengthened maturity to March 2004, along with built-in extension
 provisions, compared with February 2002 with the previous facility.  F.Y.I.
 has also established new relationships with leading financial service firms,
 providing increased access to a broad range of expertise and funds
 availability.
     "This new facility is reflective of our continued growth and financial
 strength," said Barry L. Edwards, executive vice president and chief financial
 officer of F.Y.I. Incorporated.  "Along with our strong positive cash flow, it
 provides us with ample and flexible borrowing capacity to fund our planned
 investments, including strategic acquisitions, without the need to access
 equity markets."
 
     ABOUT F.Y.I. INCORPORATED
     F.Y.I. Incorporated is a leading, national, single-source provider of
 business process outsourcing solutions.  Headquartered in Dallas, the company
 serves clients in information-intensive industries such as healthcare, legal,
 banking, insurance, and government.  F.Y.I. was added to the S&P SmallCap
 600 Index in January 2000 and is also a component of the Russell 2000 Index.
     F.Y.I. Incorporated employs more than 10,000 people and operates in over
 40 states, Washington D.C., Puerto Rico, Mexico, and the Grenadines.  In 1999,
 and for the second straight year, F.Y.I. was recognized by Forbes Magazine as
 one of the 200 Best Small Companies, based on return on equity, sales growth,
 and EPS growth.  This follows FORTUNE magazine naming F.Y.I. as one of
 America's 100 Fastest Growing Public Companies.
     For more information about F.Y.I.'s service offerings, including case-
 study examples, visit the F.Y.I. Incorporated website at http://www.fyii.com.
     The statements in this press release, which are not historical fact, are
 forward-looking statements that involve risks and uncertainties, which could
 cause actual results to differ materially from such forward-looking
 statements.  Such risks and uncertainties include, but are not limited to, the
 risks of integrating our operating companies, of managing our rapid growth, of
 the timing and magnitude of technological advances, of the occurrences of
 future events that could diminish our existing customers' needs for our
 services, of a change in the degree to which companies continue to outsource
 business processes, as well as the risks detailed in F.Y.I. Incorporated's
 filings with the Securities and Exchange Commission, including without
 limitation, those detailed under the heading "Risk Factors" in the company's
 most recent annual report on Form 10-K.  F.Y.I. disclaims any intention or
 obligation to revise any forward-looking statements, including financial
 estimates, whether as a result of new information, future events, or
 otherwise.
 
 

SOURCE F.Y.I. Incorporated
    DALLAS, April 5 /PRNewswire/ -- F.Y.I. Incorporated (Nasdaq: FYII), one of
 the nation's leading providers of business process outsourcing solutions,
 today announced its new $297.5 million line of credit.  This credit facility
 replaces the Company's previous $175 million facility.  Bank of America is
 acting as the arrangement agent, with SunTrust and Wells Fargo acting as co-
 agents.  Also, nine additional financial institutions are participating in the
 facility, which was over-subscribed from the $250 million initial offering.
     In addition to the increased capacity, favorable terms for F.Y.I. include
 the lengthened maturity to March 2004, along with built-in extension
 provisions, compared with February 2002 with the previous facility.  F.Y.I.
 has also established new relationships with leading financial service firms,
 providing increased access to a broad range of expertise and funds
 availability.
     "This new facility is reflective of our continued growth and financial
 strength," said Barry L. Edwards, executive vice president and chief financial
 officer of F.Y.I. Incorporated.  "Along with our strong positive cash flow, it
 provides us with ample and flexible borrowing capacity to fund our planned
 investments, including strategic acquisitions, without the need to access
 equity markets."
 
     ABOUT F.Y.I. INCORPORATED
     F.Y.I. Incorporated is a leading, national, single-source provider of
 business process outsourcing solutions.  Headquartered in Dallas, the company
 serves clients in information-intensive industries such as healthcare, legal,
 banking, insurance, and government.  F.Y.I. was added to the S&P SmallCap
 600 Index in January 2000 and is also a component of the Russell 2000 Index.
     F.Y.I. Incorporated employs more than 10,000 people and operates in over
 40 states, Washington D.C., Puerto Rico, Mexico, and the Grenadines.  In 1999,
 and for the second straight year, F.Y.I. was recognized by Forbes Magazine as
 one of the 200 Best Small Companies, based on return on equity, sales growth,
 and EPS growth.  This follows FORTUNE magazine naming F.Y.I. as one of
 America's 100 Fastest Growing Public Companies.
     For more information about F.Y.I.'s service offerings, including case-
 study examples, visit the F.Y.I. Incorporated website at http://www.fyii.com.
     The statements in this press release, which are not historical fact, are
 forward-looking statements that involve risks and uncertainties, which could
 cause actual results to differ materially from such forward-looking
 statements.  Such risks and uncertainties include, but are not limited to, the
 risks of integrating our operating companies, of managing our rapid growth, of
 the timing and magnitude of technological advances, of the occurrences of
 future events that could diminish our existing customers' needs for our
 services, of a change in the degree to which companies continue to outsource
 business processes, as well as the risks detailed in F.Y.I. Incorporated's
 filings with the Securities and Exchange Commission, including without
 limitation, those detailed under the heading "Risk Factors" in the company's
 most recent annual report on Form 10-K.  F.Y.I. disclaims any intention or
 obligation to revise any forward-looking statements, including financial
 estimates, whether as a result of new information, future events, or
 otherwise.
 
 SOURCE  F.Y.I. Incorporated

RELATED LINKS

http://www.fyii.com