N-able enters credit agreement amendment replacing LIBOR with Term SOFR benchmark

N-able, Inc.

Amendment replaces LIBOR with Term SOFR as the interest rate benchmark for outstanding loans.
Term SOFR adjustment for Term Loans subject to lender objection; Revolving Loan adjustment set at 0.00%.
Existing Eurodollar Loans continue at LIBOR until their current Interest Period ends, then convert.
No other material changes to credit agreement terms or borrowing capacity.
Effective June 26, 2023; JPMorgan Chase serves as administrative agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

N-able, Inc. amended Amendment No. 1 with JPMorgan Chase, Bank, N.A. as administrative agent, and the revolving lenders party thereto (effective 2023-06-26).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase, Bank, N.A. as administrative agent, and the revolving lenders party thereto
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, certain subsidiaries of N-able, Inc. (the “Company”), with JPMorgan Chase, Bank, N.A. as administrative agent, and the revolving lenders party thereto entered into Amendment No. 1 (“Amendment No. 1”) to the Company’s Credit Agreement, dated July 19, 2021.

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Source: SEC EDGAR

accession 0001834488-23-000099

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