P10 expands credit agreement to $500M

P10 announced an amended and restated credit agreement that expands the existing total credit capacity to $500 million from new and existing lenders. JPMorgan Chase Bank, N.A., KeyBanc Capital Markets, Inc., and Texas Capital Bank served as Joint Lead Arrangers and Joint Bookrunners. The bank syndicate represents a diversified group of 14 lenders. The Company will use the loan proceeds to pay off the outstanding borrowings under its existing credit facility and execute previously stated organic and inorganic growth initiatives. The new agreement provides for a senior secured revolving credit facility in the amount of $175 million and a senior secured term loan facility of $325 million. The new agreement also provides for an ability to increase the amount of the credit facilities by up to $125 million, subject to certain conditions.