Progress Software Announces Amended Credit Facility
Progress Software (Nasdaq: PRGS) has secured a Fifth Amended and Restated Credit Agreement, expanding its revolving credit facility from $900 million to $1.5 billion with an extended maturity date to July 31, 2030.
The new facility replaces the company's existing secured credit facility, with $660 million in revolving credit loans remaining outstanding as of the closing date. According to CFO Anthony Folger, this enhanced credit facility will support Progress' Total Growth Strategy through additional accretive acquisitions.
JPMorgan Chase Bank, Citibank, and Wells Fargo Bank are among the key financial institutions involved in the agreement as lead arrangers and agents.
Progress Software (Nasdaq: PRGS) ha ottenuto un Quinto Accordo di Credito Emendato e Ristabilito, ampliando la sua linea di credito revolving da 900 milioni di dollari a 1,5 miliardi di dollari con una scadenza estesa al 31 luglio 2030.
La nuova linea sostituisce la precedente struttura di credito garantito della società, con 660 milioni di dollari di prestiti revolving ancora in essere alla data di chiusura. Secondo il CFO Anthony Folger, questa linea di credito migliorata supporterà la Strategia di Crescita Totale di Progress attraverso acquisizioni addizionali e accretive.
JPMorgan Chase Bank, Citibank e Wells Fargo Bank sono tra le principali istituzioni finanziarie coinvolte nell'accordo come lead arranger e agenti.
Progress Software (Nasdaq: PRGS) ha asegurado un Quinto Acuerdo de Crédito Modificado y Restablecido, ampliando su línea de crédito revolvente de 900 millones a 1.5 mil millones de dólares con una fecha de vencimiento extendida hasta el 31 de julio de 2030.
La nueva facilidad reemplaza la línea de crédito garantizada existente de la compañía, con 660 millones de dólares en préstamos revolventes pendientes a la fecha de cierre. Según el CFO Anthony Folger, esta línea de crédito mejorada apoyará la Estrategia de Crecimiento Total de Progress mediante adquisiciones adicionales y accretivas.
JPMorgan Chase Bank, Citibank y Wells Fargo Bank están entre las principales instituciones financieras involucradas en el acuerdo como organizadores principales y agentes.
Progress Software (나스닥: PRGS)는 5차 수정 및 재작성된 신용 계약을 체결하여 회전 신용 한도를 9억 달러에서 15억 달러로 확대하고 만기일을 2030년 7월 31일로 연장했습니다.
새로운 시설은 회사의 기존 담보 신용 시설을 대체하며, 마감일 기준으로 6억 6천만 달러의 회전 신용 대출이 남아 있습니다. CFO Anthony Folger에 따르면, 이 향상된 신용 시설은 추가적인 수익성 있는 인수를 통해 Progress의 총 성장 전략을 지원할 것입니다.
JPMorgan Chase Bank, Citibank, Wells Fargo Bank가 주요 금융 기관으로서 주선사 및 대리인 역할을 맡았습니다.
Progress Software (Nasdaq : PRGS) a obtenu un cinquième accord de crédit modifié et reformulé, augmentant sa facilité de crédit renouvelable de 900 millions à 1,5 milliard de dollars avec une échéance prolongée au 31 juillet 2030.
Cette nouvelle facilité remplace la facilité de crédit garantie existante de l'entreprise, avec 660 millions de dollars de prêts renouvelables encore en cours à la date de clôture. Selon le directeur financier Anthony Folger, cette facilité de crédit améliorée soutiendra la stratégie de croissance totale de Progress grâce à des acquisitions supplémentaires créatrices de valeur.
JPMorgan Chase Bank, Citibank et Wells Fargo Bank figurent parmi les principales institutions financières impliquées dans l'accord en tant qu'arrangeurs principaux et agents.
Progress Software (Nasdaq: PRGS) hat einen fünften geänderten und neu gefassten Kreditvertrag abgeschlossen, der seine revolvierende Kreditfazilität von 900 Millionen auf 1,5 Milliarden US-Dollar erweitert und das Fälligkeitsdatum auf den 31. Juli 2030 verlängert.
Die neue Fazilität ersetzt die bestehende gesicherte Kreditfazilität des Unternehmens, wobei zum Zeitpunkt des Abschlusses noch 660 Millionen US-Dollar an revolvierenden Krediten ausstehen. Laut CFO Anthony Folger wird diese erweiterte Kreditfazilität Progress' Gesamtwachstumsstrategie durch zusätzliche ertragssteigernde Akquisitionen unterstützen.
JPMorgan Chase Bank, Citibank und Wells Fargo Bank gehören zu den wichtigsten Finanzinstituten, die als Hauptarrangeure und Agenten an der Vereinbarung beteiligt sind.
- None.
- $660 million in revolving credit loans remain outstanding
- Increased debt capacity could lead to higher leverage if fully utilized
New
BURLINGTON, Mass., July 22, 2025 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it has entered into a Fifth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which, among other things, increased the company’s revolving credit facility from
Progress CFO Anthony Folger stated, “This new credit facility provides scale and flexibility, both of which are important to support Progress’ continued growth. With our increased liquidity, Progress is exceptionally well positioned to deliver on our Total Growth Strategy through additional accretive acquisitions.”
JPMorgan Chase Bank, N.A. acted as Administrative Agent; Citibank, N.A. and Wells Fargo Bank, N.A.as Syndication Agents; Bank of America, N.A., PNC Bank, National Association, TD Bank, N.A., Citizens Bank N.A., and First-Citizens Bank & Trust Company as Documentation Agents; JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Securities, LLC acted as Joint Bookrunners and Joint Lead Arrangers; and BofA Securities, Inc., PNC Bank, National Association and TD Bank, N.A. acted as Joint Lead Arrangers.
About Progress Software
Progress Software (Nasdaq: PRGS) provides software that enables organizations to develop and deploy their mission-critical applications and experiences, as well as effectively manage their data platforms, cloud and IT infrastructure. As an experienced, trusted provider, we make the lives of technology professionals easier. Learn more at www.progress.com.
Note Regarding Forward-Looking Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believes,” “expects,” “may,” “could,” “would,” “might,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” “targets,” or “anticipates,” or similar expressions which concern our strategy, plans, projections or intentions. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended November 30, 2024 and our Quarterly Reports on Form 10-Q for the quarterly periods ended February 28, 2025 and May 31, 2025. Except as required by law, Progress has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations, which speak only as of the date of this press release.
Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.
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Source: Progress Software Corporation
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