SurveyMonkey amends credit facility, reduces debt by over $100M

|About: SurveyMonkey (SVMK)|By:, SA News Editor

SurveyMonkey (NASDAQ:SVMK) has amended its 2017 Refinancing Facility Agreement and paid down over $100M of its outstanding debt.

The new Refinancing Facility Agreement provides for a $220M term loan facility that was issued at par and a $75M revolving loan facility.

The term loan will be repaid in quarterly principal installments of $550K, with any remaining principal, together with all accrued and unpaid interest, due and payable on October 10, 2025.

Terms of the New Agreement for the term loan are based on an adjusted LIBO Rate plus a spread of 3.75%.

Terms for revolving loans under the New Agreement for the revolving credit facility are based on an adjusted LIBO Rate plus a spread of 1.75% to 2.50%.

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