Tenable Holdings, Inc. has entered into a credit agreement with JPMorgan Chase Bank, N.A., acting as the administrative agent, collateral agent, and letter of credit issuer. The agreement, dated October 13, 2026, establishes a senior secured revolving credit facility with an aggregate principal amount of $400.0 million. This facility includes a $40.0 million sublimit for the issuance of letters of credit. The credit line is initially undrawn.
The company stated that this new facility, combined with a convertible note financing announced in September, completes the refinancing of its previous credit structure. This refinancing replaces a prior revolving credit facility that matured in July and an outstanding Term Loan B facility. The proceeds from the loans under the agreement may be used for working capital and general corporate purposes.
Revolving loans under the agreement will mature on the fifth anniversary of the effective date, which is October 13, 2031. However, the maturity date is subject to a springing maturity provision. If the outstanding principal amount of certain material indebtedness exceeds specific thresholds, the maturity date will be accelerated to 91 days prior to the earliest scheduled maturity date of that indebtedness, subject to certain exceptions.
The agreement includes customary financial covenants. Tenable is required to maintain a Total Leverage Ratio of less than or equal to 4.00:1.00 and an Interest Coverage Ratio of not less than 3.00:1.00, both tested at the end of each fiscal quarter. Additionally, the agreement contains standard negative covenants regarding liens, investments, indebtedness, and restricted payments. The obligations under the agreement are guaranteed by certain material domestic subsidiaries and secured by substantially all of the assets of the Company and its guarantors.
