Cvent announces successful debt refinancing –


New $500 million revolving credit facility to enable pursuit of strategic growth opportunities

TYSONS, Va.–(BUSINESS WIRE)–$CVT #MarTechCvent (Nasdaq: CVT), a market leader in meetings, events and hospitality technology, today announced the closing of a new five-year, $500 million senior secured revolving credit facility by through a syndicate of banks led by PNC Bank, National Association, with Cvent, Inc., a wholly owned subsidiary of the Company, as borrower. This new facility, which closed on May 27, 2022, replaces the Company’s existing $266 million term loan facility and $40 million revolving credit facility. Cvent expects the refinancing to result in annual interest savings of approximately $4 million.

The additional borrowing capacity under the new loan facility, combined with the company’s positive free cash flow, should help Cvent seize strategic opportunities to expand its market leadership position and deepen its platform capabilities. .

“We are pleased with the more favorable terms of this new loan facility and the financial flexibility it provides us moving forward,” said Billy Newman, Cvent’s Chief Financial Officer. “During the process, we saw strong interest, which resulted in the transaction being oversubscribed, which we believe reflects our financial strength and growth prospects. The increase in our borrowing capacity improves our ability to pursue strategic growth opportunities as we focus on delivering long-term returns for our shareholders.

About Cvent

Cvent Holding Corp. (Nasdaq: CVT) (the “Company” or “Cvent”) is a leading provider of meetings, events and hospitality technology with more than 4,300 employees and nearly 21,000 customers worldwide. Founded in 1999, the company offers a comprehensive event marketing and management platform and provides a global marketplace where event professionals collaborate with venues to create engaging and impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington DC, and has additional offices around the world to support its growing global customer base. Cvent’s comprehensive event marketing and management platform offers software solutions for event planners and marketers for online event registration, venue selection, event marketing and management, virtual and on-site solutions and participant engagement. Cvent’s suite of products automates and simplifies the event management process and helps customers maximize the impact of in-person, virtual and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.comor join us on Facebook, Twitter Where LinkedIn.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements that reflect Cvent’s current views, expectations and beliefs regarding, among other things, future events, results and financial performance, which are intended to be covered by the safe harbor provisions for forward-looking statements provided. by the Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that such future plans, estimates or expectations will occur or prove to be correct. All forward-looking statements contained in this release are based on the company’s historical performance and its current plans, estimates and expectations in light of information currently available for the company. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results discussed in such forward-looking statements, including the risk that the Company may not be able to identify and realize opportunities strategic as discussed in this press release, the risk that the amount of annual interest savings may vary and the risk that the intended use of borrowings under the facility may change. Further information on potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those set forth in documents filed by the Company from time to time with the Securities and Exchange Commission, including most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, including in the “Risk Factors” sections of these filings. All forward-looking statements are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to publicly update or review any forward-looking statement, except as required by law, whether either as a result of new information, future developments or otherwise.


Investor Relations
[email protected]

Media Relations
Erica Stoltenberg

[email protected]
(571) 378-6240


Comments are closed.