NICE closed its acquisition of inContact, uniting two providers of contact center applications and contact center cloud.

In connection with the closing of the merger, NICE Systems entered into a $550 million senior secured credit agreement with a syndicate of lenders led by JPMorgan Chase as administrative agent.

The facility consists of a $475 million term loan facility used to finance the merger and pay related fees and expenses and a $75 million revolving loan facility used for working capital and other general corporate purposes.

Unless terminated earlier, each of the facilities will mature on November 14, 2021.

The company also entered into a first supplemental indenture with Wells Fargo Bank as trustee, supplementing its existing indenture governing the company’s 2.50% convertible senior notes due 2022

The indenture was executed in connection with the closing of the merger. After the effective date of the merger, the consideration due upon conversion of each $1,000 principal amount of convertible notes will be solely cash in an amount equal to the applicable conversion rate as defined in and as may be increased in accordance with the indenture multiplied by the consideration under the merger agreement of $14.00 per share.

“The successful completion of this acquisition is a major milestone for NICE, inContact, as well as the entire market,” said Barak Eilam, CEO of NICE. “This agreement is an important element of our strategic vision to provide the market a true end-to-end contact center cloud offering and positions our company as the clear leader in the contact center as a service (CCaaS) industry.”