Tenable Holdings has entered into a new $400 million senior secured revolving credit facility, completing the refinancing of its previous credit agreement and providing additional flexibility for future capital allocation.
The new revolving facility, combined with Tenable’s previously announced convertible note financing completed in September, refinances the company’s prior credit agreement, which included an outstanding Term Loan B facility. It also replaces Tenable’s previous revolving credit facility, which matured in July.
The $400 million facility is initially undrawn, giving Tenable access to additional liquidity without immediately increasing borrowings. The company said the facility is intended to provide greater flexibility as it evaluates capital allocation priorities.
Borrowings under the credit agreement will mature on October 13, 2031, five years after the facility’s effective date. The agreement also includes a springing maturity provision that could accelerate maturity to 91 days before the maturity of certain other material indebtedness, subject to specified exceptions and limitations.
Tenable provides exposure management and cybersecurity technology designed to help organizations identify and remediate security risks across IT infrastructure, cloud environments, and critical infrastructure. The company serves more than 40,000 customers globally.
Support: JPMorgan Chase Bank served as the facility’s administrative agent, collateral agent, and letter of credit issuer. Cooley served as legal counsel to Tenable.
