BlackLine repays credit facility following initial public offering

By Angela McDaniels

Tacoma, Wash., Nov. 8 – BlackLine, Inc. repaid and terminated its credit facility with Obsidian Agency Services, Inc. on Thursday in connection with the completion of its initial public offering, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility consisted of three outstanding term loans in the aggregate amount of $67 million, including principal and interest, and a $5 million unused revolving line of credit.

The term loans would have matured on Sept. 25, 2018, and each bore interest at Libor plus 800 basis points, with a 1.5% Libor floor.

In connection with the termination of the term loans, the company paid a total of $67.7 million, which included principal, interest and prepayment penalties.

BlackLine has a cloud-based software platform for accounting and finance operations. It is based in Woodland Hills, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.