Accelevation enters new $650 million senior secured credit agreement, replaces prior facilities
ACCV•Accelevation entered a $650 million senior secured credit agreement replacing its pre-IPO facilities. The new revolving facility and Term Loan A mature in 2031 and carry pricing of Term SOFR plus 1.50% to 2.50%, down from 4.50% to 5.25%.
1. New credit facilities
Accelevation entered a $650 million senior secured credit agreement, replacing its pre-IPO credit facilities. The agreement includes a $400 million revolving credit facility and a $250 million Term Loan A, both maturing in 2031.
2. Lower pricing
Pricing is set at Term SOFR plus 1.50% to 2.50%, compared with SOFR plus 4.50% to 5.25% under the prior facilities. Bank of America is the administrative agent and collateral agent.
