TAMPA, Fla., May 25, 2017 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a provider of professional staffing services and solutions, announced today it has completed a new $300 million revolving credit facility with a syndicate led by Wells Fargo Bank, N.A. The new credit facility, which expires in May 2022, replaces an existing $170 million asset-based revolving credit facility.

David L. Dunkel, Chairman and CEO, said, “We are very pleased with the successful closing of this transaction. We believe the high level of interest and quality of participation we received speaks to the strength of Kforce’s business, financial position and future prospects. The increase in size of the new credit facility allowed us to add several new quality banks to the team who we expect will complement our existing banking partners very well.”

David M. Kelly, Chief Financial Officer, said, “This new facility provides us with several structural advantages over our previous credit facility. The increase in the size of the facility provides us with much greater agility and flexibility in accessing capital to make necessary and prudent investments in profitably growing our business and generating long-term shareholder value.”

Additional information regarding the terms of the new credit facility are contained in the Form 8-K filed today with the Securities and Exchange Commission (SEC).

About Kforce

Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing temporary and permanent staffing solutions in the skill areas of technology and finance & accounting. Backed by nearly 2,800 associates and over 11,000 consultants on assignment, Kforce is committed to “Great People = Great Results” for our valued clients and consultants. Kforce operates with 61 offices located throughout the United States and one office in the Philippines. For more information, please visit our Web site at http://www.kforce.com.