Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
PTC INC. incurred term loan of $500 million term loan credit facility with JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein at Interest rates for the credit facilities will be determined at the option of PTC maturing Each of the revolving credit facility and the term loan credit facility will mature on the earlier of (i) January 3, 2028 (the “Stated Maturity Date”) and (ii).
- Instrument
- term loan
- Principal
- $500 million term loan credit facility
- Counterparty
- JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein
- Rate
- Interest rates for the credit facilities will be determined at the option of PTC
- Maturity
- Each of the revolving credit facility and the term loan credit facility will mature on the earlier of (i) January 3, 2028 (the “Stated Maturity Date”) and (ii)
- Event
- incurrence
Exact text from the filing
The new credit facility consists of (i) a $1.25 billion revolving credit facility, (ii) a $500 million term loan credit facility, and (iii) an incremental facility pursuant to which PTC may incur additional term loan tranches or increase its revolving credit facility by an amount of up to (a) the greater of $766 million and 10% of consolidated EBITDA, plus (b) an additional amount subject to a ratio of first lien secured indebtedness to consolidated EBITDA of PTC and its subsidiaries of not greater than 1.75 to 1.00 on a pro forma basis.
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
PTC INC. incurred revolving credit of $1.25 billion revolving credit facility with JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein at Interest rates for the credit facilities will be determined at the option of PTC maturing Each of the revolving credit facility and the term loan credit facility will mature on the earlier of (i) January 3, 2028 (the “Stated Maturity Date”) and (ii).
- Instrument
- revolving credit
- Principal
- $1.25 billion revolving credit facility
- Counterparty
- JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein
- Rate
- Interest rates for the credit facilities will be determined at the option of PTC
- Maturity
- Each of the revolving credit facility and the term loan credit facility will mature on the earlier of (i) January 3, 2028 (the “Stated Maturity Date”) and (ii)
- Event
- incurrence
Exact text from the filing
The new credit facility consists of (i) a $1.25 billion revolving credit facility, (ii) a $500 million term loan credit facility, and (iii) an incremental facility pursuant to which PTC may incur additional term loan tranches or increase its revolving credit facility by an amount of up to (a) the greater of $766 million and 10% of consolidated EBITDA, plus (b) an additional amount subject to a ratio of first lien secured indebtedness to consolidated EBITDA of PTC and its subsidiaries of not greater than 1.75 to 1.00 on a pro forma basis.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
PTC INC. completed an acquisition involving ServiceMax, Inc. (closed 2023-01-03).
- Action
- acquisition
- Counterparty
- ServiceMax, Inc.
- Closing
- 2023-01-03
Exact text from the filing
On January 3, 2023, PTC completed its acquisition of ServiceMax, Inc. pursuant to the Share Purchase Agreement dated November 17, 2022 by and among PTC, ServiceMax, Inc., and ServiceMax JV, LP
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
PTC INC. entered into Amended Senior Credit Agreement with JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein valued at $1.25 billion revolving credit facility and $500 million term loan credit facility (effective 2023-01-03).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein
- Value
- $1.25 billion revolving credit facility and $500 million term loan credit facility
- Effective
- 2023-01-03
Exact text from the filing
On January 3, 2023, PTC Inc. (“PTC”) entered into a Fourth Amended and Restated Credit Agreement (the “Amended Senior Credit Agreement”) with JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein, which Amended Senior Credit Agreement amended and restated in its entirety PTC’s existing senior credit facility (the “Existing Credit Agreement”).
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