Upland Software announced the successful completion of a debt refinancing agreement with private credit direct lender Sound Point Capital. The company secured a new $240 million, six-year term loan, which extends the maturity of its debt to 2031.
The new credit agreement also includes a $30 million revolving credit facility, which further enhances the company’s financial liquidity. As part of the transaction, Upland paid down $18 million in principal.
Jack McDonald, CEO and Chairman of Upland Software, stated that this refinancing improves financial flexibility, allowing for further investment in AI-powered knowledge and content management software solutions. This move is expected to drive long-term value for customers and shareholders.
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