E2open Parent Holdings, Inc. (NYSE: ETWO), a leading network-based provider of a cloud-based, mission-critical, end-to-end supply chain management platform, today announced it has amended and upsized its existing credit facility with an incremental term loan provided by Golub Capital.
The use of the proceeds from the upsizing will be used to finance the first purchase price payment for Logistyx Technologies and provides E2open the flexibility to settle the remaining two purchase price payments with all cash. Any excess cash from this upsized agreement in conjunction with the balance sheet cash and cash flow from operations will then be deployed for share repurchases or other general corporate purposes.
“We are excited to secure permanent financing for the recently announced acquisition of Logistyx Technologies at the same rate as our existing credit facility in the current credit environment,” said Jarett Janik, chief financial officer at E2open.
Under the terms of the upsized agreement, E2open’s total credit facility will include $1.1 billion in term loan and $155 million in revolving credit facility (which is expected to be undrawn following the transaction). The term loan facility bears interest at LIBOR rate plus 3.50% and matures in February 2028.
About E2open
At E2open, we’re creating a more connected, intelligent supply chain. It starts with sensing and responding to real-time demand, supply and delivery constraints. Bringing together data from clients, distribution channels, suppliers, contract manufacturers and logistics partners, our collaborative and agile supply chain platform enables companies to use data in real time, with artificial intelligence and machine learning to drive smarter decisions. All this complex information is delivered in a single view that encompasses your demand, supply, logistics and global trade ecosystems. E2open is changing everything. Demand. Supply. Delivered.TMVisit www.e2open.com.
E2open and the E2open logo are registered trademarks of E2open, LLC. Demand. Supply. Delivered. is a trademark of E2open, LLC.
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