Progress announced that it has entered into an amended secured credit facility in the aggregate amount of $575 million, including a $275 million senior secured term loan and a $300 million revolving line of credit. The credit facility may be incrementally expanded by an additional amount of $260 million or a greater amount determined by a pro forma senior secured net leverage ratio test, subject to certain conditions. This new credit facility replaces Progress' existing secured credit facility dated April 30, 2019 and will mature on January 25, 2027, subject to certain conditions.
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