Tenable, an exposure management company, entered into a credit agreement that provides for a $400 million senior secured revolving credit facility. The facility, combined with the previously announced convertible note financing in September, completes the refinancing of Tenable’s prior credit agreement consisting of a previously outstanding term loan B facility and replaces the revolving credit facility which matured in July. The revolving facility is initially undrawn and is put in place to give Tenable additional flexibility with its capital allocation.
Revolving loans under the credit agreement will mature on the fifth anniversary of the effective date, on Oct. 13, 2031, subject to a springing maturity date of 91 days inside the maturity of other material indebtedness, as well as certain exceptions and limitations.
JPMorgan Chase Bank acted as the administrative agent, collateral agent and L/C issuer for the credit agreement. Cooley acted as legal counsel to Tenable.
