Company: TENB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001660280-25-000128
Chunk: 15

Company: Tenable Holdings, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 liabilities at September 30, 2025 were as follows:(in thousands)Year ending December 31,2025$2,191 202612,752 202712,181 202811,531 202911,172 Thereafter22,703 Total lease payments72,530 Less: Imputed interest(12,150)Total$60,380 Operating lease payments in the table above do not include $0.4 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").The table below summarizes the carrying value of the Term Loan:(in thousands)September 30, 2025Term loan$360,937 Less: Unamortized debt discount and issuance costs(3,596)Term loan, net of issuance costs357,341 Less: Term loan, net, current (1)(2,521)Term loan, net of issuance costs (net of current portion)$354,820 _______________(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 September 30, 2025, the fair value of our Term Loan was approximately $362.7 million. In the fair value hierarchy, our Term Loan is classified as Level 2 as it is traded in less active markets.

16

The maturities of the Term Loan at September 30, 2025 were as follows:(in thousands)Year ending December