debt
confidence high
sentiment neutral
materiality 0.50
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.
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