Synchronoss Technologies repays in full, terminates credit agreement

By Sarah Lizee

Olympia, Wash., Nov. 15 – Synchronoss Technologies, Inc. terminated all commitments and repaid all amounts outstanding under its senior secured credit agreement dated Jan. 19, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Goldman Sachs Bank USA was the administrative agent, collateral agent, swingline lender and a letter of credit issuer.

The termination was funded using a portion of the proceeds from the company’s sale of its wholly owned subsidiary Intralinks Holdings, Inc. to affiliates of Siris Capital Group, LLC.

The total payoff amount was roughly $898 million and included all accrued interest, fees and prepayment penalties.

Synchronoss Technologies is a Bridgewater, N.J.-based provider of managed mobility solutions for Service Providers and Enterprise.

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