Tenable Holdings, Inc. has entered into a new credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, providing the company with a senior secured revolving credit facility of $400.0 million. The proceeds from the facility are intended for working capital and general corporate purposes.
Key Details
- Facility Size: The agreement provides for a senior secured revolving credit facility of $400.0 million, which includes a $40.0 million sublimit for the issuance of letters of credit.
- Term: The facility matures on October 13, 2031, five years from the effective date. As of the agreement date, the company had no outstanding revolving loans.
- Security & Covenants: The obligations are secured by substantially all assets of the company and its subsidiary guarantors. The agreement includes financial covenants requiring Tenable to maintain a Total Leverage Ratio of no more than 4.00:1.00 and an Interest Coverage Ratio of at least 3.00:1.00.