Globant restates for $350 million in revolving, term loans due 2025

By Wendy Van Sickle

Columbus, Ohio, Feb. 6 – Globant, LLC, the U.S. subsidiary of Globant SA, entered into a second amended and restated credit agreement with HSBC Bank USA, NA as administrative agent on Thursday, providing for a $100 million delayed-draw term loan and a $250 million revolver, according to a 6-K filing with the Securities and Exchange Commission.

Under the delayed-draw term loan, Globant may borrow up to $100 million in up to four borrowings on or prior to Aug. 6, 2021.

Globant may request to increase the revolver by up to $100 million.

Each tranche matures on Feb. 5, 2025.

Borrowings bear interest at Libor plus a margin of either 150 basis points or 175 bps, based on the borrower’s total leverage ratio.

The credit agreement amends and restates the company’s Nov. 1, 2018, credit agreement, which provided for a $150 million revolver with a $100 million accordion feature and a $50 million term loan.

The technology services provider is based in Luxembourg.

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