RealPage replaced its existing credit facilities, expanding borrowing capacity to $1.2 billion and reducing borrowing costs.
The credit facilities mature on September 5, 2024 and contain an accordion feature permitting the company to request additional borrowing capacity of up to $250 million plus an additional amount that would not cause the company to exceed a maximum consolidated net secured leverage ratio, subject to certain terms and conditions.
Wells Fargo is acting as lead arranger and administrative agent for the financing.
“Our new credit facilities provide the foundation for executing our long-term strategy,” said Tom Ernst, CFO and Treasurer of RealPage. “We have increased our borrowing capacity, incorporated more flexible terms, extended the maturity date, and reduced borrowing costs.”
“Wells Fargo has supported RealPage’s successful execution on organic and inorganic growth opportunities for more than a decade,” said Michael Ackad, head of Technology Finance at Wells Fargo Capital Finance. “We are dedicated to helping our clients succeed financially as they continuously evolve their business and transform the industry.”
RealPage is a global provider of software and data analytics to the real estate industry.
