Temenos announces closing of new USD 500m Revolving Credit Facility

The refinancing was led by Bank of America and BNP Paribas, with UBS acting as Facility Agent. The syndicate included ten banks in total across the US, Europe and Switzerland.

The transaction successfully leveraged Temenos’ investment grade credit ratings from S&P and Fitch to achieve favorable pricing terms, and secures Temenos’ long term access to credit through a five year facility with two one-year extension options. The RCF reflects the strength of Temenos’ balance sheet and cash flow and complements the three existing Temenos bonds which mature in 2025, 2028 and 2030.

Takis Spiliopoulos, Chief Financial Officer, Temenos, commented:

“I am pleased with the success of this refinancing exercise. We were able to secure highly favorable terms and had strong demand from a broad range of lenders. This further strengthens our balance sheet, with no further refinancing needed until 2028, demonstrating the high level of confidence in our profitability and cash flow.”