CSRA INC. (NYSE:CSRA) Files An 8-K Entry into a Material Definitive AgreementItem 9.01 Entry into a Material Definitive Agreement.
On December 29, 2017 (the “Third Amendment Effective Date”), CSRA Inc. (the “Company”) entered into the Third Amendment to Credit Agreement (the “Third Amendment”) among the Company, the guarantors party thereto, The Bank of Tokyo-Mitsubishi UFJ, Ltd., in its capacity as administrative agent under the Pro Rata Facilities (in such capacity, the “Pro Rata Administrative Agent”), Royal Bank of Canada, in its capacity as administrative agent under the Term Loan B Facility (in such capacity, the “Term Loan B Administrative Agent”), the Incremental Term Loan B Lenders (as defined in the Third Amendment) party thereto and the Lenders party thereto, which amended that certain Credit Agreement dated as of November 27, 2015 (as amended by the First Amendment to Credit Agreement dated as of November 30, 2016, the Second Amendment to Credit Agreement dated as of June 15, 2017 and as further amended, restated, supplemented, or otherwise modified prior to the effectiveness of the Third Amendment, the “Credit Agreement”; the Credit Agreement, as amended by the Third Amendment, the “Amended Credit Agreement”) among the Company, the Pro Rata Administrative Agent, the Term Loan B Administrative Agent, MUFG Union Bank, N.A., as collateral agent, and the guarantors and lenders from time to time party thereto.
to the Third Amendment, among other things, (a) the maturities of the Tranche A2 Facility and the Revolving Facility (each as defined in the Credit Agreement) were extended for a period of one year and (b) the Company incurred incremental term loan B advances in an aggregate principal amount of $200,000,000, which resulted in an increase in the unpaid aggregate principal balance of the Term Loan B Facility (as defined in the Credit Agreement) (after giving effect to the repayment of advances under the Term Loan B Facility made on the Third Amendment Effective Date) to a total of $849,000,000. A portion of the additional borrowings under the Term Loan B Facility was immediately applied to repay in full the balance of the aggregate principal amount of the advances under the Revolving Facility outstanding immediately prior to the Third Amendment Effective Date in the aggregate amount of $150,000,000 and to pay fees and expenses incurred in connection with the Third Amendment and the transactions contemplated thereby. The Amended Credit Agreement provides for quarterly amortization payments with respect to the Term Loan B Facility of $1,000,000 commencing March 31, 2018 through December 31, 2022 and quarterly amortization payments thereafter of $3,250,000 until the maturity date of the Term Loan B Facility, subject to reduction as a result of the application of voluntary or mandatory prepayments made by the Company.
The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference to this Item 9.01.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
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Exhibit No. |
Description |
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10.1 |
Third Amendment to Credit Agreement, dated as of December 29, 2017, by and among CSRA Inc., the guarantors party thereto, The Bank of Tokyo-Mitsubishi UFJ, Ltd., in its capacity as Pro Rata Administrative Agent, Royal Bank of Canada, in its capacity as Term Loan B Administrative Agent, the Incremental Term Loan B Lenders party thereto and the Lenders party thereto.
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CSRA Inc. ExhibitEX-10.1 2 thirdamendment.htm EXHIBIT 10.1 Exhibit Exhibit 10.1THIRD AMENDMENT TO CREDIT AGREEMENTThis THIRD AMENDMENT TO CREDIT AGREEMENT,…To view the full exhibit click here
About CSRA INC. (NYSE:CSRA)
CSRA Inc. is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies. The Civil segment provides services to various federal agencies within the Department of Homeland Security (the DHS), Department of Health and Human services, and other federal civil agencies, as well as various state and local government agencies. It supplies civil government agencies with mission information systems and associated technical support services. It provides its customers with technical services across service areas, including Digital Services, Enterprise Business Services, Digital Platforms, Cyber, Data Science, and Professional and Citizen Services. It has conducted operations in over 130 locations.
