Compuware expands revolver to $300 million, extends maturity to 2017

By Angela McDaniels

Tacoma, Wash., March 26 - Compuware Corp. amended its revolving credit facility on Wednesday, increasing the size to $300 million from $200 million and extending the maturity date to March 21, 2017 from Nov. 1, 2012.

Compass Bank, PNC Bank, NA and Huntington National Bank were added as lenders, according to an 8-K filing with the Securities and Exchange Commission.

As a result of the amendment, Compuware is now also required to maintain a cushion of at least 0.25 times below its consolidated total leverage ratio maximum of 2.5 times on a pro forma basis in the case of any stock repurchases in excess of $50 million in any fiscal year.

Comerica Bank is the administrative agent.

Compuware provides software and web performance solutions, professional services and application services. It is based in Detroit.

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