Progress Announces Amended Credit Facility
New $900M facility provides liquidity and flexibility at greater scale
BURLINGTON, Mass., March 07, 2024 (GLOBE NEWSWIRE) — Progress (NASDAQ:PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities. The revolving facilities under the Amended Credit Agreement will mature on March 7, 2029. As of the closing date, the Amended Credit Agreement has no term loan facility and there are no revolving credit loans outstanding.