RealPage Incorporated, one of the top providers of on-demand software and software-enabled services to the rental housing industry, has just announced that the company has amended its credit facility, otherwise known as the “Amended Credit Facility”. The Amended Credit Facility, which provides a revolving line of credit (as much as $150 million), will upgrade on December 30th, 2015 and convert the RealPage’s rather large debt of $57.9 million into revolving loans.
The interest rates on the Amended Credit Facility will vary, however, and will depend on defined senior leverage ratios. In addition to that, they will range from LIBOR plus 3.5% to LIBOR plus 3.0%. If you are seriously interested in this development (or you literally have nothing better to do with your time), you can get all the detailed information on all the terms and conditions of the Amended Credit Facility from RealPage’s 8-K. RealPage will file its 8-K with the Securities and Exchange Commission on or before December 29 of this year.
Chief Financial Officer and and Treasurer for RealPage Incorporated Tim Barker had this to say about the situation, “This amendment expands our banking relationships and provides continued financial flexibility in exceeding our growth strategy.”
Lenders that will be participating in the Amended Credit Facility will include Wells Fargo capital Finance, LLC, which will serve as the administrative agent. In addition to Wells Fargo, Comerica Bank, JP Morgan, Chase Bank, N.A. and Bank of America, N.A. will also be participating as lenders.
RealPage Incorporated provides on-demand products and services to apartment communities as well as single family rentals across the country and has a product line that includes OneSite property management systems, LeaseStar expert managed marketing, YieldStar asset optimization systems, Velocity billing and utility management services, LeasingDesk risk mitigation systems and many more.
Source: The Sacramento Bee – RealPage Amends Credit Facility
