Globant gets two-part loan

Globant gets two-part loan

Loans Debt Argentina Europe

Argentine software company Globant said it signed a two-part credit agreement for up to $350 million, split between a revolving credit facility for $250 million and a delayed-draw term loan for $100 million, according to a filing with the US Securities and Exchange Commission (SEC). The five-year loans pay 150 basis points over Libor, but they can go up to 175 basis points "based on the borrower's maximum total leverage ratio," Globant said in the filing. HSBC is the administrative agent, while

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