Accelevation Announces New Credit Agreement
Accelevation entered a new $650 million senior secured credit agreement, replacing facilities established before its IPO, with a $400 million revolver and $250 million Term Loan A maturing in 2031. Pricing improved to SOFR plus 1.50%-2.50% from SOFR plus 4.50%-5.25%, cutting borrowing costs roughly 300 basis points. CFO Ken Krause said the facilities strengthen the balance sheet and provide flexibility to keep investing in the business post-IPO.
Key figures
- Deal Value Usd
- 650000000
- Maturity
- 2031
- Revolver
- 400000000
- New pricing
- SOFR + 1.50%-2.50%
- Term loan a
- 250000000
- Prior pricing
- SOFR + 4.50%-5.25%
AI analysis
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