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.

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