SolarWinds details $130 million revolver in amended credit facility

Chicago, Nov. 28 – SolarWinds Inc. closed on its amended credit agreement on Nov. 23, including a $130 million revolver that had been increased from $117.5 million, according to an 8-K filing with the Securities and Exchange Commission.

The borrower is subsidiary SolarWinds Holdings, Inc.

The maturity date of the revolver has been extended to Nov. 23, 2027, or 91 days earlier if there is $150 million of the first-lien term loans outstanding 91 days before Feb. 5, 2027.

Interest will be between SOFR plus 375 basis points and 400 bps.

The commitment fee is either 37.5 bps or 50 bps.

Credit Suisse AG, Cayman Branch is the administrative agent for the facility that was originally signed on Feb. 5, 2016.

The amended agreement also refinanced the first-lien term loans, as previously reported, and extended them to Feb. 5, 2027.

In connection with the amendment, S&P Global Ratings upgraded the corporate credit rating of the issuer to B+ from B.

JPMorgan Chase Bank, NA, Credit Suisse Loan Funding LLC, Goldman Sachs Lending Partners LLC and Wells Fargo Securities, LLC were listed as joint bookrunners for the amendment.

Goldman Sachs Lending Partners LLC was the syndication agent and the documentation agent.

SolarWinds is an Austin, Tex.-based provider of IT network and systems infrastructure management software.

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