Integral Ad Science (IAS), a global media measurement and optimization platform, entered into a second amendment to its credit agreement with a syndicate of banks led by PNC Capital Markets as the joint lead arranger and administrative agent and HSBC Bank USA and TD Bank as joint lead arrangers and syndication agents.
The credit agreement amendment extends the maturity of the revolving credit facility to June 17, 2030, and includes a new $30 million sub-facility for swingline loans in addition to its existing $100 million currency sublimit and $30 million sub-facility for standby letters of credit. Additionally, the credit agreement amendment provides for an increased accordion feature which, subject to lender approval, now permits IAS to increase borrowings under the credit agreement from $300 million to at least $550 million. The credit agreement amendment complements IAS’ healthy liquidity profile, with $59 million in cash and cash equivalents as of March 31, 2025.
“This amendment to our credit agreement provides us with the opportunity to increase our borrowing capacity, enables greater financial flexibility and supports our growth,” Alpana Wegner, chief financial officer of IAS, said.
