$DT · Dynatrace, Inc.
Dynatrace LLC entered into a $500 million senior secured revolving credit facility on September 24, 2026, with Bank of America as administrative agent and BofA Securities and BMO Capital Markets as joint lead arrangers. The facility is guaranteed by parent Dynatrace Intermediate LLC and subsidiary guarantors, secured by first-priority liens on certain assets and subsidiary equity interests. The agreement also references the company's 0% Exchangeable Senior Notes due 2031 issued in August 2026.
- $500 million senior secured revolving credit facility dated September 24, 2026, with Bank of America as administrative agent.
- Borrower is Dynatrace LLC; guaranteed by Dynatrace Intermediate LLC (Holdings) and subsidiary guarantors.
- Facility is secured by first-priority liens on certain assets and equity interests of certain subsidiaries.
- Agreement references $0 2031 Exchangeable Notes issued August 20, 2026 under a separate indenture.
- BMO Capital Markets serves as syndication agent alongside BofA Securities as joint lead arranger and bookrunner.
Stock down 1.24% in regular session to $57.95; the credit facility filing itself is routine corporate finance and unlikely to be the primary driver of the day's move.
Establishes a committed liquidity backstop for the $16.9B observability company, though the facility size is modest relative to market cap and carries standard covenants.
Observability/APM peers commonly maintain revolving credit facilities for working capital and acquisition flexibility; Dynatrace's $500M facility is unremarkable for a ~$17B market-cap software company.
The facility imposes financial covenants (Section 8.24) and customary events of default including cross-default risk with other indebtedness; the 0% 2031 Exchangeable Notes are referenced but not governed by this agreement.
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