Progress Software aims to amend credit agreement for five-year revolver

By Marisa Wong

Los Angeles, Feb. 26 – Progress Software Corp. began a process to further amend and restate its credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The amendment and restatement would provide for a $900 million revolving credit facility and no term loan facility and would mature on the date that is five years following the closing of the amendment and restatement.

The amendment and restatement would also modify some other definitions, covenants and terms of the credit agreement.

The company noted that there can be no assurances that the amendment and restatement will be completed on those planned terms or at all.

Progress Software is a Burlington, Mass.-based enterprise software company.

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