BLACKHAWK NETWORK HOLDINGS, INC. (NASDAQ:HAWK) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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entered into a First Amendment to Credit Agreement (the First
Amendment) with the lenders identified therein and Wells Fargo
Bank, National Association, as administrative agent (the Agent).
The First Amendment amends the Companys Amended and Restated
Credit Agreement dated as of July 27, 2016 (the Credit Agreement)
with the Agent and the other lenders party thereto.
matters, (i) extend the expiration date of the commitment of
those lenders holding commitments to provide term loans from
April 28, 2017 to January 12, 2018; (ii) increase the maximum
consolidated total leverage ratio the Company is required to
maintain for the Companys fiscal quarters ending June 17, 2017
and September 9, 2017 from 4.00 to 1.00 to 4.25 to 1.00; and
(iii) increase the maximum amount of dividends, stock repurchases
and other restricted payments the Company is permitted to make in
a fiscal year, if at the time of such payment its consolidated
total leverage ratio is greater than or equal to 2.75 to 1.00,
from $40.0 million to $60.0 million.
does not purport to be complete and is qualified entirely by
reference to the full text of the First Amendment which is filed
as Exhibit 10.1>to this Current Report on Form 8-K and
incorporated by reference into this Item 1.01.
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Item 9.01.
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit No.
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Description
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10.1
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First Amendment to Credit Agreement dated as of April
25, 2017, by and among Blackhawk Network Holdings, Inc., as borrower, the financial institutions signatory thereto, as lenders, and Wells Fargo Bank, National Association, as administrative agent. |
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About BLACKHAWK NETWORK HOLDINGS, INC. (NASDAQ:HAWK)
Blackhawk Network Holdings, Inc. is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards. The US Retail segment consists of the various operating segments of the United States retail products, third-party online distribution channel and secondary card market and is engaged in sales of prepaid products to consumers through these channels. The International Retail segment consists of the various operating segments of its geographic regions and is engaged in sales of prepaid products to consumers at its international retail distribution partners. The Incentives & Rewards segment consists of the various operating segments, which offer prepaid cards, other products and related services to business clients for their consumer incentive and employee reward programs. BLACKHAWK NETWORK HOLDINGS, INC. (NASDAQ:HAWK) Recent Trading Information
BLACKHAWK NETWORK HOLDINGS, INC. (NASDAQ:HAWK) closed its last trading session up +0.55 at 41.20 with 1,048,694 shares trading hands.
