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Progress Software Announces Amended Credit Facility

1. Progress Software raised its credit facility to $1.5 billion. 2. Extended maturity date for the credit facility to July 31, 2030. 3. CFO stated the facility enhances growth and acquisition strategies. 4. Currently, $660 million of the revolving credit loans remain outstanding. 5. The move is aimed at supporting large-scale and flexible growth.

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Why Bullish?

The increased credit facility grants PRGS greater liquidity for growth and acquisitions, potentially boosting investor confidence and stock value, similar to prior instances where companies leveraged credit successfully for market expansion.

How important is it?

The substantial credit facility directly supports significant growth opportunities, making it highly relevant to PRGS's strategic direction and investor sentiment.

Why Long Term?

The extended credit facility ensures PRGS has the necessary resources for sustained growth initiatives over several years, which can yield long-term positive performance, evidenced by companies that strategically used credit for M&A activities.

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July 22, 2025 06:00 ET  | Source: Progress Software Corporation New $1.5B facility will support continued growth and provide greater scale and flexibility BURLINGTON, Mass., July 22, 2025 (GLOBE NEWSWIRE) --  Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it has entered into a Fifth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which, among other things, increased the company’s revolving credit facility from $900 million to $1.5 billion and extended the maturity date to July 31, 2030. The Amended Credit Agreement replaces the Company’s existing secured credit facility and, as of the closing date, there remains $660 million in revolving credit loans outstanding. Progress CFO Anthony Folger stated, “This new credit facility provides scale and flexibility, both of which are important to support Progress’ continued growth. With our increased liquidity, Progress is exceptionally well positioned to deliver on our Total Growth Strategy through additional accretive acquisitions.” JPMorgan Chase Bank, N.A. acted as Administrative Agent; Citibank, N.A. and Wells Fargo Bank, N.A.as Syndication Agents; Bank of America, N.A., PNC Bank, National Association, TD Bank, N.A., Citizens Bank N.A., and First-Citizens Bank & Trust Company as Documentation Agents; JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Securities, LLC acted as Joint Bookrunners and Joint Lead Arrangers; and BofA Securities, Inc., PNC Bank, National Association and TD Bank, N.A. acted as Joint Lead Arrangers. About Progress Software Progress Software (Nasdaq: PRGS) provides software that enables organizations to develop and deploy their mission-critical applications and experiences, as well as effectively manage their data platforms, cloud and IT infrastructure. As an experienced, trusted provider, we make the lives of technology professionals easier. Learn more at www.progress.com.  Note Regarding Forward-Looking StatementsThis press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believes,” “expects,” “may,” “could,” “would,” “might,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” “targets,” or “anticipates,” or similar expressions which concern our strategy, plans, projections or intentions. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended November 30, 2024 and our Quarterly Reports on Form 10-Q for the quarterly periods ended February 28, 2025 and May 31, 2025. Except as required by law, Progress has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations, which speak only as of the date of this press release. Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners. Source: Progress Software Corporation 

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