Tenable entered into a credit agreement consisting of a $375 million senior secured term loan facility and a $50 million senior secured revolving credit facility.
The term loan bears interest at a rate of 2.75% per annum over LIBOR, subject to a 0.5% floor, and will mature on July 7, 2028. The revolving facility bears interest at a rate, depending on first lien net leverage, ranging from 2% to 2.5% over LIBOR and will mature on July 7, 2026. Tenable expects to use the net proceeds from the credit facility for general corporate purposes, which may include, among other things, capital expenditures, permitted acquisitions and other investments.
JPMorgan Chase, Morgan Stanley Senior Funding, Bank of America and Barclays Bank acted as joint lead arrangers and joint bookrunners for the credit facility.