Upland Software, Inc. (UPLD): debt financing — Upland Software completes $240M debt refinancing with Sound Point Capital, maturity extended to 2031

Upland Software, Inc.

New $240M term loan matures July 2031; proceeds redeemed $258M prior facility.
Interest rate set at SOFR + 6.00% (floor 1.50%); quarterly amortization begins at 2.5% p.a.
Also received $30M revolving credit facility for working capital and general corporate purposes.
Covenant tested quarterly: secured leverage ratio limited to 6.0x.
CEO cites enhanced financial flexibility to invest in AI-powered software solutions.

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

Upland Software, Inc. incurred term loan of $240 million with Sound Point Capital at secured overnight financing rate, which shall not be less than 1.50%, plus a mar maturing July 25, 2031.

Instrument: term loan
Principal: $240 million
Counterparty: Sound Point Capital
Rate: secured overnight financing rate, which shall not be less than 1.50%, plus a mar
Maturity: July 25, 2031
Event: incurrence

Exact text from the filing

The Credit Agreement established a new senior secured term loan facility in an aggregate principal amount of $240 million

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Upland Software, Inc. incurred revolving credit of $30 million with Sound Point Capital at same interest rate as the Term Loan maturing July 25, 2031.

Instrument: revolving credit
Principal: $30 million
Counterparty: Sound Point Capital
Rate: same interest rate as the Term Loan
Maturity: July 25, 2031
Event: incurrence

Exact text from the filing

the Credit Agreement provides for a $30 million senior secured revolving credit facility

View on SEC.gov

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Upland Software, Inc. filing history →

Source: SEC EDGAR

accession 0001505155-25-000080

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