---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-25-000224"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2025-07-22T23:59:59+00:00"
generated_at: "2026-05-18T04:49:09.676656+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Progress Software upsizes credit facility to $1.5B, extends maturity to 2030

## Summary
- New $1.5B secured revolving facility replaces prior $900M facility from March 2024.
- Maturity date extended to July 31, 2030; $660M in revolving loans outstanding at closing.
- Interest rate based on Term Benchmark Rate +1.25%-2.50% or base rate +0.25%-1.50%, with 0.15%-0.35% unused commitment fee.
- CFO states facility provides greater scale and flexibility to support growth and additional accretive acquisitions.
- Joint bookrunners include JPMorgan, Citibank, and Wells Fargo Securities; proceeds for general corporate purposes.

## SEC filing metadata
- accession: 0001552781-25-000224
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2025-07-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876167/000155278125000224/0001552781-25-000224-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000155278125000224/e25263_prgs-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-25-000224
- JSON: https://secwatch.observer/filing/0001552781-25-000224.json
- Plain text: https://secwatch.observer/filing/0001552781-25-000224.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.