Upland Software, an AI-powered knowledge and content management software company, entered into an agreement with private credit direct lender Sound Point Capital to refinance its existing debt with a new $240 million, six-year term loan, extending the maturity of its debt to 2031. The new credit agreement also includes a $30 million revolving credit facility, further enhancing the company’s financial liquidity.
“We’re pleased to complete this new credit facility with Sound Point Capital, their speed and certainty throughout this process was a differentiator,” Jack McDonald, CEO and chairman of Upland Software, said. “This refinancing enhances our financial flexibility, allowing us to invest further in our AI-powered knowledge and content management software solutions and drive long-term value for our customers and shareholders.”
“Sound Point Capital’s one-stop lending platform was the optimal solution for Upland Software’s next phase of growth and we’re excited to support management and HGGC in their vision,” Andrew Eversfield, co-head of Sound Point Direct Lending, said.
Morrison & Foerster acted as legal advisor to Upland Software, and Paul Hastings acted as legal advisor to Sound Point Capital.
