Tenable Holdings, Inc.
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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Jun 30, 2026 · Filed Aug 4, 2026
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7. Debt
- Debt
Credit Agreement
In July 2021, we entered into a credit agreement ("Credit Agreement") which is comprised of:
a $375.0 million senior secured term loan facility ("Term Loan"); and
a $50.0 million senior secured revolving credit facility ("Revolving Credit Facility").
The table below summarizes the carrying value of the Term Loan:
| (in thousands) | June 30, 2026 |
|---|---|
| Term loan | $358,125 |
| Less: Unamortized debt discount and issuance costs | (2,681) |
| Term loan, net of issuance costs | 355,444 |
| Less: Term loan, net, current | (2,461) |
| Term loan, net of issuance costs (net of current portion) | $352,983 |
Our Term Loan is recorded at its carrying value. At June 30, 2026, the fair value of our Term Loan was approximately $357.7 million. In the fair value hierarchy, our Term Loan is classified as Level 2 as it is traded in less active markets.
The maturities of our Term Loan at June 30, 2026 were as follows:
| (in thousands) | |
|---|---|
| Year ending December 31, | |
| 2026 | $1,875 |
| 2027 | 3,750 |
| 2028 | 352,500 |
| Total | $358,125 |
We may be subject to mandatory Term Loan prepayments related to the excess cash flow provisions. These prepayments would only be required if our first lien net leverage ratio (as defined in our Credit Agreement) exceeds 3.5 at the end of each year. At June 30, 2026, our first lien net leverage ratio was 0.77. The final payment on our Term Loan of $350.6 million is due on the July 7, 2028 maturity date.
The Revolving Credit Facility expired on July 7, 2026, and we did not elect to enter into a new facility.
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