Daily News: November 19, 2019

JPMorgan Leads GlobalSCAPE $55MM Facility


GlobalSCAPE has entered into a five-year, $55 million senior secured credit facility with a syndicate of banks led by JPMorgan as administrative agent.

The new credit facility provides for a term loan facility in the principal amount of $50 million and revolving commitments in an aggregate principal amount of $5 million.

“We are pleased to report the establishment of a $55 million credit facility with JPMorgan and East West Bank as well as the authorization of a special shareholder dividend,” said Robert Alpert, chairman of the company’s board of directors and interim CEO. “I believe the new credit facility is a reflection of the company’s strong operating model and ability to generate significant free cash flow.”

GlobalSCAPE provides cloud services that automate work, secure data, and integrate applications.