Udemy, Inc. (UDMY): debt financing — Udemy closes $200M senior secured revolving credit facility, undrawn at closing

Udemy, Inc.

Facility matures May 30, 2030; provides $200M revolving loans with $10M letters of credit and swingline sublimits.
Credit line undrawn at closing; Udemy had $350M+ cash, cash equivalents and marketable securities as of March 31, 2025.
Proceeds for working capital and general corporate purposes; total liquidity including facility exceeds $550M.
Lending syndicate includes Citibank, MUFG, JPMorgan, and Morgan Stanley.

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

Udemy, Inc. incurred revolving credit of $200.0 million with Citibank, N.A. at adjusted term SOFR rate (based on one, three or six month interest periods), plu maturing five-year.

Instrument: revolving credit
Principal: $200.0 million
Counterparty: Citibank, N.A.
Rate: adjusted term SOFR rate (based on one, three or six month interest periods), plu
Maturity: five-year
Event: incurrence

Exact text from the filing

mpany”) entered into a credit agreement by and among the Company, certain subsidiaries of the Company from time to time party thereto as guarantors, the lenders named in the Credit Agreement (the “Lenders”), the other financial institutions party thereto, and Citibank, N.A., as administrative agent and collateral agent (such agreement, the “Credit Agreement”).

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Udemy, Inc. filing history →

Source: SEC EDGAR

accession 0001607939-25-000075

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