SailPoint, Inc. (SAIL): debt financing — SailPoint enters $250M revolving credit facility, replaces prior credit agreement

SailPoint, Inc.

New $250M revolving credit facility, matures five years from June 25, 2025.
Interest: Term SOFR + 1.50%-2.50% or Base Rate + 0.50%-1.50%, based on First Lien Net Leverage Ratio.
Requires total net leverage ratio ≤4.00x (can increase to 4.50x for material acquisitions).
Facility includes $10M letter-of-credit sublimit; lenders include Morgan Stanley, Goldman Sachs, JPMorgan.
Replaces prior credit agreement dated August 16, 2022, which was terminated on closing.

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

SailPoint, Inc. incurred credit facility of up to $250.0 million with Morgan Stanley Senior Funding, Inc. at Base Rate plus a margin ranging from 0.50% to 1.50% or Term SOFR plus a margin r maturing five years from the Closing Date.

Instrument: credit facility
Principal: up to $250.0 million
Counterparty: Morgan Stanley Senior Funding, Inc.
Rate: Base Rate plus a margin ranging from 0.50% to 1.50% or Term SOFR plus a margin r
Maturity: five years from the Closing Date
Event: incurrence

Exact text from the filing

The New Credit Agreement permits aggregate borrowings by STI and certain of SailPoint's other wholly owned subsidiaries that are Additional Borrowers (as defined therein) of up to $250.0 million

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SailPoint, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-058442

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