PITTSBURGH, June 11, 2024 /PRNewswire/ -- PNC Bank, National Association ("PNC"), today announced the closing of a $500+ million senior secured credit facility for Seismic, a global leader in sales enablement software. PNC served as Administrative Agent and Collateral Agent for the credit facility and PNC Capital Markets LLC ("PNCCM") served as Lead Left Arranger.
"Over the past five years, PNC's relationship with Seismic has expanded to support their business goals, growth and acquisition needs," said Ankur Gupta, executive vice president and group head of Technology Finance for PNC Business Credit. "We look forward to continuing to support the company with financial products and strategies that can help deliver differentiated value to its customers through its industry-leading solution."
The funds provided by the expanded credit facility will be utilized for strategic growth initiatives and working capital needs. In addition to closing the credit facility, PNC also provides Seismic with a suite of other bank products and services, including its comprehensive treasury management platform and capital markets solutions.
"Our longstanding relationship with PNC – both as a Seismic customer and as a valued partner – has been key in driving Seismic's growth and innovation," said Doug Winter, cofounder and CEO of Seismic. "With this extended facility, we're better enabled to accelerate our strategic initiatives, expand our market presence, and continue delivering world-class enablement solutions to our customers around the globe."
PNC Business Credit's Technology Finance group offers creative capital solutions tailored around the intrinsic value of recurring revenue streams for private software companies in the middle market. PNC is a consistent lender in the technology industry, offering deep sector knowledge and reliable deal execution, both domestically and internationally.
About Seismic
Seismic is the global leader in enablement, helping organizations engage customers, enable teams, and ignite revenue growth. The Seismic Enablement Cloud™ is the most powerful, unified enablement platform that equips customer-facing teams with the right skills, content, tools, and insights to grow and win. From the world's largest enterprises to startups and small businesses, more than 2,000 organizations around the globe trust Seismic for their enablement needs. Seismic is headquartered in San Diego with offices across North America, Europe, and Australia. To learn more, visit Seismic.com and follow us on LinkedIn, X (formerly Twitter) and Instagram.
About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
PNC Capital Markets ("PNCCM"), member FINRA and SIPC, is an affiliate of PNC Bank, National Association ("PNC Bank"). PNC Bank and PNCCM are subsidiaries of The PNC Financial Services Group, Inc. ("PNC"). Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit • Not Insured By Any Federal Government Agency • May Lose Value
Bank deposit, treasury management and lending products and services, foreign exchange, and derivatives products, bond accounting and safekeeping services, escrow services, and investment and wealth management and fiduciary services, are provided by PNC Bank, National Association ("PNC Bank"), a wholly owned subsidiary of PNC and Member FDIC.
©2024 The PNC Financial Services Group, Inc. All Rights Reserved.
CONTACT:
Christina Davis
(214) 871-1259
christina.figg@pnc.com
SOURCE PNC Bank
