Blackbaud draws $138.7 million under revolving credit facility

By Marisa Wong

Morgantown, W.Va., Oct. 3 – Blackbaud, Inc. borrowed $138.7 million under a revolving loan under its senior secured credit facility on Oct. 2, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will be used to finance Blackbaud’s acquisition of Giving Ltd.

Following the borrowing, about $178.6 million is outstanding under the revolving credit loan, with roughly $169.8 million of available borrowing capacity under the credit facility.

Blackbaud is a cloud software company based in Charleston, S.C.

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