Citrix Systems enters into $250 million five-year revolver

By Wendy Van Sickle

Columbus, Ohio, Nov. 27 – Citrix Systems, Inc. entered into an amended and restated credit agreement providing for a $250 million five-year unsecured revolving credit facility on Tuesday, according to an 8-K filed with the Securities and Exchange Commission.

The company may elect to increase the revolver by up to an additional $250 million.

BofA Securities, Inc. is the lead arranger and bookrunner. Bank of America, NA, BNP Paribas, Citibank, NA, Deutsche Bank Securities Inc., JPMorgan Chase Bank, NA and Wells Fargo Bank, NA are the co-syndication agents.

Borrowings bear interest at Libor plus a margin ranging from 101.5 basis points to 117.5 bps, depending on consolidated leverage ratio or from 78.5 bps to 127.5 bps, depending on ratings if the company achieves investment-grade ratings.

The commitment fee ranges from 11 bps to 20 bps, based on leverage ratio, or from 9 bps to 22.5 bps, based on ratings.

The credit agreement amends and restates the company’s credit agreement dated Jan. 7, 2015.

Borrowings may be used for working capital and general corporate purposes.

The software company is based in Fort Lauderdale, Fla.

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