CoStar Group enters new $1.1B revolving credit facility maturing 2029

COSTAR GROUP, INC.

Replaces prior $1.1B credit agreement dated July 1, 2020.
Matures five years from May 24, 2024; interest rate tied to debt rating (ABR spread 0.125%–0.750%; SOFR spread 1.125%–1.750%).
Financial covenant requires Total Leverage Ratio ≤ 4.50 to 1.00 tested quarterly.
Letter of credit sublimit of $20 million; proceeds for general corporate purposes.
Arrangers include BofA Securities, BNP Paribas, Citibank, JPMorgan, PNC, Santander.

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