COMMVAULT SYSTEMS INC (CVLT): debt financing — Commvault refinances credit facility, increasing borrowing capacity to $300M

COMMVAULT SYSTEMS INC

New $300M senior secured revolving credit facility replaces existing $100M facility; five-year maturity.
Borrowings bear interest at SOFR + 1.50%-2.00% or base rate + 0.50%-1.00%, based on leverage ratio.
Unused commitment fee of 0.25%-0.35% per annum; financial maintenance covenants include leverage and interest coverage ratios.
Existing credit agreement dated December 13, 2021 terminated upon effectiveness.

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

COMMVAULT SYSTEMS INC incurred revolving credit of $300 million with JPMorgan Chase Bank, N.A. at SOFR plus 1.50% to 2.00% or base rate plus 0.50% to 1.00% maturing five-year.

Instrument: revolving credit
Principal: $300 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus 1.50% to 2.00% or base rate plus 0.50% to 1.00%
Maturity: five-year
Event: incurrence

Exact text from the filing

On April 15, 2025, Commvault Systems, Inc. (the “Company”) refinanced its existing $100 million senior secured revolving credit facility and established a new five-year senior secured revolving credit facility that increases the Company’s total borrowing capacity to $300 million (the “Credit Facility”).

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Source: SEC EDGAR

accession 0001169561-25-000028

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