Loan & DebtMay 29, 2026, 09:17 AM
Tyler Technologies Ups Credit Facility to $1B
AI Summary
Tyler Technologies has entered into an Amended and Restated Credit Agreement, establishing a new $1 billion unsecured revolving credit facility. This new facility replaces the company's previous $700 million credit agreement and matures on May 28, 2031. The agreement includes an uncommitted accordion feature, allowing for potential increases in the credit facility for general corporate purposes, including acquisitions and capital expenditures. At the time of closing, Tyler Technologies had no outstanding borrowings under either the new or the terminated credit agreement.
Key Highlights
- Tyler Technologies entered into a new $1 billion unsecured revolving credit facility.
- The new facility replaces the existing $700 million unsecured credit facility.
- The credit agreement matures on May 28, 2031.
- It includes an uncommitted accordion mechanism allowing for incremental loans up to the greater of $525 million or 100% of EBITDA, plus additional indebtedness.
- Interest rates are based on Prime (0.125%-0.75% margin) or SOFR (1.125%-1.75% margin), plus a commitment fee of 0.125%-0.250%.
- No borrowings were outstanding under either the new or old credit agreement at closing.
- Funds can be used for general corporate purposes, including working capital, acquisitions, and capital expenditures.
Price Impact
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