CoStar Group entered into a New Credit Agreement with Bank of America, N.A. as administrative agent on May 24, 2024, and the agreement replaces its existing credit agreement dated July 1, 2020.

1. 01

   CoStar Group entered into a New Credit Agreement with Bank of America, N.A. as administrative agent on May 24, 2024, and the agreement replaces its existing credit agreement dated July 1, 2020.

2. 02

   The company said the New Credit Agreement provides revolving loans with an aggregate principal amount of $1.1 billion, with a letter of credit sublimit of $20 million, and is scheduled to mature 5 years after the Closing Date.

3. 03

   The company said borrowings bear interest at a floating rate. At the company's option, the rate is an alternate base rate plus an applicable rate of 0.125% to 0.750%, or Term SOFR, SONIA or EURIBOR plus an applicable rate of 1.125% to 1.750%, with the applicable rate depending on its Debt Rating.

4. 04

   The company said it must maintain a Total Leverage Ratio of less than or equal to 4.50 to 1.00, tested at the end of each fiscal quarter. It also said that if an event of default occurs, obligations may be accelerated and lending commitments under the agreement may be terminated.

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