Tenable Announces Closing of New $400M Secured Revolving Credit Facility

Tenable says the initially undrawn facility gives it additional flexibility with capital allocation.

Rhea-AI Summary

Tenable (NASDAQ: TENB) has closed a $400.0 million senior secured revolving credit facility that is initially undrawn.

Together with September’s convertible note financing, it completes refinancing of the prior credit agreement and replaces the revolver that matured in July. Loans mature on October 13, 2031, subject to an earlier maturity 91 days before other material indebtedness matures, with certain exceptions and limitations.

3 points · 0 major

PositiveiHow this balance works

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0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point$400.0 million revolving facility provides additional borrowing capacity and is initially undrawn. 8.9% of market cap
• Moderate pointRefinancing completed through the new facility and September’s convertible note financing.
• Minor pointNew revolving facility replaces the revolving credit facility that matured in July.

Negative

• Minor pointSenior secured terms apply to borrowing under the new credit agreement.
• Minor point. Forward-looking: it has not happened yet and may not happen.October 13, 2031 maturity may accelerate to 91 days before other material indebtedness matures, subject to exceptions and limitations.

Key Figures

Revolving credit facility: $400.0 million Maturity date: October 13, 2031 Springing maturity: 91 days

Revolving credit facility

$400.0 million

Senior secured facility; initially undrawn

Maturity date

October 13, 2031

Fifth anniversary of the effective date

Springing maturity

91 days

Before the maturity of other material indebtedness, subject to exceptions and limitations

Historical Context

1 past event · Latest: Sep 10

1 event

1. Sep 10

   Convertible note financing

   24h Move

   -4.9%

   September proposal funded term-loan repayment and said Tenable may seek a new revolver

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

revolving credit facility, convertible note financing, term loan b, springing maturity date

4 terms

revolving credit facility financial

"a $400.0 million senior secured revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

convertible note financing financial

"the previously announced convertible note financing in September"

A convertible note financing is a loan investors give to a company that is intended to turn into shares later instead of being paid back in cash. Think of it like a bridge loan that comes with a coupon you can swap for ownership at the next funding round, usually at a discounted price or a preset valuation limit. It matters to investors because it lets them support a company early while delaying a precise valuation, but it also affects future ownership percentages and risk exposure when the loan converts into equity.

term loan b financial

"a previously outstanding Term Loan B facility"

A Term Loan B (TLB) is a large, syndicated loan made to a company that is typically sold to institutional investors rather than held by banks; think of it as a long-term mortgage from a group of investors with higher interest and smaller early payments. It matters to investors because it changes a company’s debt cost, repayment schedule and credit risk—factors that affect profit, cash flow and the market value of both the company’s equity and its traded debt.

springing maturity date financial

"subject to a springing maturity date of 91 days inside the maturity"

A springing maturity date is a contractual maturity that does not apply immediately but becomes the effective repayment date only if a specified trigger event occurs. Loan agreements, bonds, or notes will name a primary maturity date and one or more springing maturities that 'spring' into effect on triggers such as covenant breaches, defaults, failure to meet certain financial tests, change of control, or non‑renewal of a facility; when the trigger happens, the outstanding obligation becomes due on the springing maturity date or is accelerated to that date. The term has no standalone legal effect outside the written contract — the exact triggers and timing must be defined in the governing agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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COLUMBIA, Md., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Tenable^® Holdings, Inc. (NASDAQ: TENB), the exposure management company, today announced it has entered into a credit agreement (the “Credit Agreement”) that provides for a $400.0 million senior secured revolving credit facility (the “Revolving Facility”). The Revolving Facility, combined with the previously announced convertible note financing in September, completes the refinancing of Tenable’s prior credit agreement consisting of a previously outstanding Term Loan B facility and replaces the revolving credit facility which matured in July. The Revolving Facility is initially undrawn and is put in place to give Tenable additional flexibility with its capital allocation.

Revolving loans under the Credit Agreement will mature on the fifth anniversary of the effective date, on October 13, 2031, subject to a springing maturity date of 91 days inside the maturity of other material indebtedness, as well as certain exceptions and limitations.

JPMorgan Chase Bank, N.A., acted as the administrative agent, collateral agent and L/C issuer for the Credit Agreement. Cooley LLP acted as legal counsel to Tenable.

About Tenable
Tenable^® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for over 40,000 customers around the globe. Learn more at tenable.com.

Forward Looking Statements
This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including statements concerning the Revolving Facility, the maturity thereof, and the anticipated use of any borrowings therefrom. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Tenable's control. Tenable's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to those detailed in Tenable's Form 10-K filed with the Securities and Exchange Commission (“SEC”) for the year ended December 31, 2025, in Tenable's quarterly reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026 and in other filings and reports that Tenable may file from time to time with the SEC. The forward-looking statements included in this press release represent Tenable's views as of the date of this press release. Tenable anticipates that subsequent events and developments will cause Tenable's views to change. Tenable undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Tenable's views as of any date subsequent to the date of this press release.

Contact Information:

Investor Relations
investors@tenable.com

Media Relations
tenablepr@tenable.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How large is Tenable’s new revolving credit facility, and has it been drawn?

Tenable’s new senior secured revolving credit facility provides $400.0 million and is initially undrawn. The company says the facility gives it additional flexibility with capital allocation.

When does Tenable’s new revolving credit facility mature?

Revolving loans mature on October 13, 2031, the fifth anniversary of the effective date. A provision can bring maturity forward to 91 days before the maturity of other material indebtedness, subject to certain exceptions and limitations.