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Wells Fargo Agents RealPage Facility Increase to $325MM

February 29, 2016, 08:02 AM
Filed Under: Technology

RealPage, Inc., a leading provider of on demand software and software-enabled services for the multifamily, single-family and vacation rental housing industries, announced that the company has entered into an agreement to amend certain terms as part of its revolving credit facility (the “Credit Facility”). The amended Credit Facility provides for the exercise of a $125 million accordion feature which will be issued in the form of term debt, and expands total borrowing capacity to $325 million. The Credit Facility provides the company with a flexible capital structure to be utilized to drive shareholder value. Wells Fargo is acting as lead arranger and administrative agent for the financing with Fifth Third Bank, Bank of America, JPMorgan Chase Bank, Comerica Bank, Regions Bank and Capital One all participating.

RealPage, Inc. is a leading provider of comprehensive property management software solutions for the multifamily, commercial, single-family and vacation rental housing industries. These solutions help property owners increase efficiency, decrease expenses, enhance the resident experience and generate more revenue. Using its innovative SaaS platform, RealPage's on demand software enables easy system integration and streamlines online property management. Its product line covers the full spectrum of property management, leasing and marketing, asset optimization, and resident services solutions. Founded in 1998 and headquartered in Carrollton, Texas, RealPage currently serves over 11,000 clients worldwide from offices in North America, Europe and Asia.

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