P10, a private markets solutions provider, amended and restated its credit agreement, which expands its existing total credit capacity to $500 million from new and existing lenders. JPMorgan Chase Bank, KeyBanc Capital Markets and Texas Capital Bank served as joint lead arrangers and joint bookrunners. The bank syndicate represents a diversified group of 14 lenders.
“Our upsized credit facilities strengthen P10’s balance sheet, while offering ample financial flexibility as we execute our organic and inorganic growth roadmap,” Amanda Coussens, executive vice president, chief financial officer and chief compliance officer of P10, said. “This successful refinancing which was led by JPMorgan Chase Bank, N.A., KeyBanc Capital Markets, Inc. and Texas Capital Bank, extends maturities for an additional four years to August 2028. I want to thank our lending partners, many of whom we have worked with for years, for their belief in P10’s vision for accelerated growth.”
The company will use the loan proceeds to pay off the outstanding borrowings under its existing credit facility and execute previously stated organic and inorganic growth initiatives.
The new agreement provides for a senior secured revolving credit facility in the amount of $175 million and a senior secured term loan facility of $325 million. The new agreement also provides for an ability to increase the amount of the credit facilities by up to $125 million, subject to certain conditions.
