PNC Bank closed a $500+ million senior secured credit facility for Seismic, a global sales enablement software. PNC served as administrative agent and collateral agent for the credit facility, and PNC Capital Markets served as lead left arranger.
“Over the past five years, PNC’s relationship with Seismic has expanded to support their business goals, growth and acquisition needs,” Ankur Gupta, executive vice president and group head of technology finance for PNC Business Credit, said. “We look forward to continuing to support the company with financial products and strategies that can help deliver differentiated value to its customers through its industry-leading solution.”
The funds provided by the expanded credit facility will be utilized for strategic growth initiatives and working capital needs.
“Our longstanding relationship with PNC — both as a Seismic customer and as a valued partner — has been key in driving Seismic’s growth and innovation,” Doug Winter, co-founder and CEO of Seismic, said. “With this extended facility, we’re better enabled to accelerate our strategic initiatives, expand our market presence and continue delivering world-class enablement solutions to our customers around the globe.”
