Company: TENB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001660280-25-000072
Chunk: 12

Company: Tenable Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 31,2025(1)$6,730 202612,170 202711,736 202811,077 202910,740 Thereafter21,968 Total lease payments74,421 Less: Imputed interest(13,495)Total$60,926 _______________(1)    Represents the nine months ending December 31, 2025.Operating lease payments in the table above do not include $0.9 million, $1.7 million, $1.8 million, $1.9 million, $1.9 million and $4.5 million of sublease payments we expect to receive in 2025, 2026, 2027, 2028, 2029 and thereafter, respectively.

8. Debt 

Credit AgreementIn 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").

15

The table below summarizes the carrying value of the Term Loan:(in thousands)March 31, 2025Term loan$362,812 Less: Unamortized debt discount and issuance costs(4,183)Term loan, net of issuance costs358,629 Less: Term loan, net, current (1)(2,561)Term loan, net of issuance costs (net of current portion)$356,068 _______________(1)    Term loan, net current is included in other current liabilities on our consolidated balance sheets.The Term Loan bears interest at a rate of 2.75% per annum over the Secured Overnight Financing Rate ("SOFR"), subject to a 0.50% floor, plus a credit spread adjustment depending on the interest period. The Term Loan is being amortized at 1% per annum in equal quarterly installments until the final payment of $350.6 million on the July 7, 2028 maturity date. Our Term Loan is recorded at its carrying value. At March 31, 2025, the fair value of our Term Loan was approximately $361.9 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 the Term Loan at March 31, 2025 were as follows:(in thousands)