Alarm.com enters into five-year $125 million revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Oct. 10 – Alarm.com Holdings, Inc. entered into a new five-year $125 million senior secured revolving credit facility on Friday, according to an 8-K filing with the Securities and Exchange Commission.

Silicon Valley Bank is the administrative agent, and PNC Bank, NA is the documentation agent.

The revolver has an accordion feature allowing it to be expanded up to a total of $175 million.

Borrowings bear interest at Libor plus an applicable margin based on Alarm.com’s consolidated leverage ratio. There is an unused fee of 20 basis points a year.

At closing, $72 million was drawn on the revolver, which was used to refinance the company’s existing $75 million revolver.

Boston-based Alarm.com provides connected home technology to subscribers through its software-as-a-service platform.

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