TELOS CORP (TLS): debt financing — Telos enters $30M senior secured revolving credit facility with JPMorgan; no amounts drawn

TELOS CORP

$30M revolver maturing Dec 30, 2025; uncommitted expansion option up to $30M.
Company had $125.3M cash as of Sep 30, 2022; no borrowings under new facility.
Interest rates: ABR +0.9%, Daily Simple SOFR +1.9%, Term SOFR +1.9%; commitment fee 0.15%.
Loan secured by assets of Telos and guarantor subsidiaries; max senior leverage ratio covenant.
Facility for general corporate purposes; arranged by JPMorgan Chase.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TELOS CORP incurred revolving credit of $30,000,000 with JPMorgan Chase Bank, N.A. at Alternative Base Rate, plus .9%; Adjusted Daily Simple SOFR, plus 1.9%; and Adju maturing December 30, 2025.

Instrument: revolving credit
Principal: $30,000,000
Counterparty: JPMorgan Chase Bank, N.A.
Rate: Alternative Base Rate, plus .9%; Adjusted Daily Simple SOFR, plus 1.9%; and Adju
Maturity: December 30, 2025
Event: incurrence

Exact text from the filing

On December 30, 2022, Telos Corporation (the “Company”) entered into a Credit Agreement (the “Credit Agreement”), by and among the Company, as borrower, Xacta Corporation, ubIQuity.com, inc., Teloworks, Inc., and Telos Identity Management Solutions, LLC, as guarantors (collectively, the “Guarantors”), the lenders party thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (in such capacity, the “Agent”). The Credit Agreement provides for a $30,000,000 senior secured revolving loan facility with a maturity date of December 30, 2025

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103 debt financings filed in the last 30 days. Browse all debt financings →

TELOS CORP filing history →

Source: SEC EDGAR

accession 0000320121-23-000003

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