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Optiv Enters into Agreement with Existing Creditors, Extending Maturities to Support Long-Term Business Objectives Optiv Security Inc., a leading cybersecurity Optiv Enters into Agreement with Existing Creditors, Extending Maturities to Support Long-Term Business Objectives Optiv Security Inc., a leading cybersecurity
Optiv Strengthens Financial Position with Lender Agreement on a Comprehensive Amendment and Extension of its Credit Facilities
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Optiv Enters into Agreement with Existing Creditors, Extending Maturities to Support Long-Term Business Objectives
Optiv Security Inc., a leading cybersecurity solutions and services provider, announced it has entered into an agreement with creditors holding more than 99% of its First Lien Term Loan and 100% of its Second Lien Term Loan (together the “Credit Facilities”) to amend and extend the maturities of its existing Credit Facilities. Upon closing, the amendments will extend the maturity of Optiv’s First Lien Credit Agreement to August 2028 and its Second Lien Credit Agreement to August 2029, providing the business with an extended runway to continue investing in value-maximizing opportunities.
The Transaction Support Agreement includes amendments to both the First Lien and Second Lien Credit Agreements and reflects the strong support of Optiv’s existing creditor base and their confidence in the Company’s strategy and long-term value.
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“This agreement reflects the confidence our financial partners have in Optiv’s business and the strength of our platform. We will continue to do what we’ve always done best: advise, deploy and operate cybersecurity programs that reduce risk and deliver real results.” said Kevin Lynch, Optiv CEO.
“The extension of our Credit Facilities provides us with the financial stability and operational flexibility to continue investing in our people, our technology and the exceptional service we deliver to our clients and partners every day,” said Marc Cabi, Optiv CFO. “With this foundation in place, we are well-positioned to continue executing on our growth strategy and delivering long-term value to our stakeholders. We are grateful for the continued support of our financial partners and look forward to the next chapter of Optiv’s story.”
Kirkland & Ellis LLP and Perella Weinberg Partners LP are serving as legal counsel and financial advisor, respectively, to the Company.
The post Optiv Strengthens Financial Position with Lender Agreement on a Comprehensive Amendment and Extension of its Credit Facilities appeared first on GlobalFinTechSeries.
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