Commvault Refinances Credit Line, Raising Borrowing Capacity to $300 Million
Commvault Systems entered a new five-year senior secured revolving credit facility on April 15, 2025, replacing its $100 million facility and lifting total borrowing capacity to $300 million. The filing also says the prior December 13, 2021 credit agreement was terminated as part of the refinancing.
- New five-year senior secured revolving credit facility gives total borrowing capacity of $300 million, up from $100 million.
- Borrowings priced at SOFR plus 1.50% to 2.00%, or base rate plus 0.50% to 1.00%, with margins tied to the leverage ratio.
- Unused commitment fee of 0.25% to 0.35% per year; agreement includes leverage and interest coverage maintenance covenants.
- Credit agreement is administered by JPMorgan Chase Bank, N.A.; the prior agreement dated December 13, 2021 was terminated.