secwatch.observer — SEC 8-K summary
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Issuer:     TYLER TECHNOLOGIES INC (TYL)
CIK:        0000860731
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0000860731-24-000046
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tyler Technologies enters new $700M credit facility, replacing prior $500M facility
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- New unsecured revolving credit facility of $700M, maturing September 25, 2029, replaces the 2021 $500M facility scheduled to mature April 2026.
- At closing, Tyler had no borrowings outstanding under either the new or prior facility.
- Interest margins range from 1.125%–1.75% (SOFR) or 0.125%–0.75% (base rate), plus commitment fee 0.125%–0.250%, based on total net leverage ratio.
- Includes an uncommitted accordion allowing incremental loans up to the greater of $525M or 100% of EBITDA, subject to leverage test.
- The facility is guaranteed by material domestic subsidiaries and is available for general corporate purposes including acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/860731/000086073124000046/0000860731-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/860731/000086073124000046/tyl-20240930.htm
  HTML page:      https://secwatch.observer/filing/0000860731-24-000046

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