Fastly has amended its senior secured revolving credit agreement, increasing its borrowing capacity from $60 million to $100 million. The amendment also extends the facility's maturity date and provides more favorable interest rates and fee structures.
Key Details
- Increased Commitment: The total commitment under the senior secured revolving credit facility was increased by $40 million, from $60 million to $100 million.
- Extended Maturity: The scheduled maturity date was extended to August 17, 2029, with an option for a one-year extension, subject to certain liquidity conditions and provisions tied to the company's 2028 convertible notes.
- Favorable Terms: Interest rates on borrowings were reduced by 0.25%, and the commitment fee on the unused portion of the facility was adjusted to a tiered structure, potentially lowering costs.