Consensus Cloud amends credit agreement, sets $225 million revolver and $300 million delayed-draw loan
CCSI•Consensus Cloud Solutions entered an amended credit agreement for $525 million in senior secured facilities: a $225 million revolver and a $300 million delayed-draw term loan. The facilities mature Sept. 30, 2031, and are positioned to refinance about $348.2 million of 6.50% senior notes due 2028.
1. Credit facilities
Consensus Cloud Solutions entered an amended and restated credit agreement with lenders led by U.S. Bank as agent. The $300 million delayed-draw term loan is available through Oct. 15, 2028; the facilities mature Sept. 30, 2031. Borrowing costs float at the base rate or SOFR, plus a leverage-based margin of 0.75%-1.5% or 1.75%-2.5%. The company is targeting retirement of about $348.2 million of 6.50% senior notes due 2028 around Oct. 15, 2027.
