NetScout amended its credit agreement, with JPMorgan as administrative agent, to increase its senior secured revolver to $1 billion.
According to a related 8-K filing, the amended facility increased the senior revolving facility from $800 million to $1 billion and increased the letter of credit from $50 million to $75 million.
JPMorgan, Wells Fargo Securities, Merrill Lynch, RBC Capital Markets and KeyBanc Capital Markets were joint lead arrangers and joint bookrunners.
The company may elect to use the new credit facility for working capital and other general corporate purposes, including to repurchase common stock. The commitments under the amended credit agreement will expire on January 16, 2023, and any outstanding loans will be due on that date.
