debt
confidence high
sentiment neutral
materiality 0.50
DoubleVerify enters $200M senior secured revolving credit facility, maturing 2029
DoubleVerify Holdings, Inc.
- New $200M revolving credit facility (with $20M LC sublimit) replaces existing facility; matures August 12, 2029.
- Interest rates: SOFR plus 2.00%-2.75% or ABR plus 1.00%-1.75% depending on leverage; commitment fees 0.25%-0.35%.
- Facility secured by substantially all assets of borrower and certain subsidiaries; includes accordion feature for incremental facilities.
- Covenants include max total net leverage ratio of 4.50:1.00 and customary restrictions on dividends, debt, liens, investments.
- JPMorgan Chase Bank acts as administrative agent; Bank of America, Capital One, Goldman Sachs as syndication agents.