Open Lending amends credit agreement for $300M facilities; maturity extended to 2027

Open Lending Corp

Establishes $150M Term A Loan and upsizes revolving facility by $100M to $150M total.
Maturities of both term loan and revolving facility extended to September 9, 2027.
LIBOR replaced with SOFR as interest rate benchmark; margins and unused fees reduced.
Net leverage ratio covenant step-down extended to September 30, 2024; amortization increase delayed to December 31, 2024.
Proceeds used to repay existing debt, pay transaction costs, and for working capital.

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