Blackbaud upsizes revolver, draws $140 million for MicroEdge purchase

By Tali Rackner

Norfolk, Va., Oct. 2 – Blackbaud, Inc. upsized the revolving commitments under senior secured credit facility by $100 on Wednesday, making a total of $250 million, according to an 8-K filing with the Securities and Exchange Commission.

The company then drew $140 million from the facility to help fund its acquisition of MicroEdge, LLC.

Blackbaud is a Charleston, S.C.-based provider of software and services for nonprofit organizations. MicroEdge is a provider of mission-critical software solutions for the philanthropic giving community worldwide.

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