Perficient Gets $75M Credit Facility

Austin, Texas-based IT consulting firm Perficient Inc. reported Monday that it has secured an expanded credit facility from Silicon Valley Bank and KeyBanc Capital Markets. Perficient said it can now borrow up to $75 million on what it described as attractive terms. Perficient added that the new credit facility allows for stock buybacks of up to $50 million—a feature that more than accommodates the company’s previously announced $10 million stock repurchase program.