Accelevation Holdings Corp. (Nasdaq: ACCV) disclosed on October 9, 2026, that its subsidiary, Accelevation LLC, entered into a new senior secured credit agreement. The agreement, dated October 9, 2026, replaces the company's previous credit facilities established prior to its initial public offering.
The new credit agreement provides for a total of $650 million in financing, consisting of a $250 million senior secured term loan facility and a $400 million senior secured revolving credit facility. The revolving facility includes a sublimit for letters of credit up to $100 million and a sublimit for swing line loans up to $40 million.
As of the closing date, the company borrowed $250 million under the term loan facility and $150 million under the revolving facility. The proceeds from these borrowings, combined with existing cash on hand, were used to repay all outstanding obligations under the company's previous credit agreement and to pay transaction expenses.
The new credit facilities mature on October 9, 2031. The term loan facility will amortize in equal quarterly installments of $3.125 million, commencing with the fiscal quarter ending March 31, 2027. The revolving credit facility does not amortize.
Bank of America, N.A., serves as the administrative agent, collateral agent, swing line lender, and a letter of credit issuer. BofA Securities, Inc., JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., KeyBank National Association, and PNC Capital Markets LLC acted as joint lead arrangers, with BofA Securities and JPMorgan Chase serving as joint bookrunners.
The agreement includes financial covenants requiring the Borrower and its restricted subsidiaries to maintain a maximum total net leverage ratio not to exceed 4.00 to 1.00, beginning with the fiscal quarter ending March 31, 2027. Additionally, the company must maintain a minimum fixed charge coverage ratio of not less than 1.25 to 1.00 during the same period.
