Dynatrace Secures $500 Million Multicurrency Revolving Credit Facility with Bank of America
Dynatrace has secured a $500 million multicurrency revolving credit facility with Bank of America to enhance its liquidity and financial flexibility. The facility allows for borrowings in U.S. dollars, Euros, Pounds Sterling, and Canadian Dollars, but non-U.S. dollar borrowings are capped at $100 million.
The interest on the borrowed amount will be tied to SOFR, EURIBOR, SONIA, CORRA, or a base rate plus a margin based on leverage or credit ratings.
The facility matures on June 24, 2031, and includes an aggregate leverage covenant of ≤4.0x, with a temporary 4.5x step-up for certain acquisitions.
The agreement also provides for two optional one-year extensions with lender consent, allowing Dynatrace to adjust its financial strategy in the future.