BlackRock, Inc. (NYSE:BLK) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry Into a Material Definitive Agreement.
On April6, 2017, BlackRock, Inc. (BlackRock) and certain of its
subsidiaries entered into Amendment No.6 (Amendment No.6) to its
Five-Year Revolving Credit Agreement, dated as of March10, 2011,
as amended by Amendment No.1 thereto, dated as of March30, 2012,
Amendment No.2 thereto, dated as of March28, 2013, Amendment No.3
thereto, dated as of March28, 2014, Amendment No.4 thereto, dated
as of April2, 2015 and Amendment No.5 thereto, dated as of
April8, 2016 (the Existing Credit Agreement), with Wells Fargo
Bank, National Association, as administrative agent, a swingline
lender, an issuing lender, L/C agent and a lender, and the banks
and other financial institutions referred to therein.
Among other things, Amendment No.6 (i)extends the maturity date
(the Maturity Date) of the revolving facility to April6, 2022
without utilizing BlackRocks option to request extensions of the
Maturity Date available under the Existing Credit Agreement,
(ii)adds JPMorgan Chase Bank, N.A. as an additional swingline
lender, (iii)incorporates the ability to borrow swingline loans
in Pounds Sterling and (iv)establishes that the $4,000,000,000
revolving facility provides a minimum availability of
$600,000,000 (or such other amount designated from time to time
by BlackRock) for borrowings by BlackRock Group Limited, a
subsidiary of BlackRock and a co-borrower under the Existing
Credit Agreement). Except as modified by Amendment No.6, the
terms of the Existing Credit Agreement remain the same.
Certain of the financial institutions party to Amendment No.6 and
their affiliates have provided, and may in the future provide,
investment banking, commercial lending, financial advisory and
other services for BlackRock, and have received customary fees
and expenses for these services.
The foregoing description of the terms and conditions of
Amendment No.6 is not complete and is in all respects subject to
the actual provisions of Amendment No.6, a copy of which has been
filed as Exhibit 10.1 to this Current Report on Form 8-K and
which is incorporated by reference herein.
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
The information included in Item1.01 of this Current Report on
Form 8-K is incorporated herein by reference.
|Item9.01||Financial Statements and Exhibits.|
Amendment No.6, dated as of April6, 2017, by and among
BlackRock, Inc., certain of its subsidiaries, Wells Fargo
Bank, National Association, as administrative agent, a
swingline lender, an issuing lender, L/C agent and a lender,
and the banks and other financial institutions referred to
About BlackRock, Inc. (NYSE:BLK)
BlackRock, Inc. is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds (ETFs), separate accounts, collective investment funds and other pooled investment vehicles. The Company offers its BlackRock Solutions (BRS) investment and risk management technology platform, Aladdin; risk analytics, and advisory services and solutions to institutional investors. BRS also offers risk reporting capabilities via the Green Package and risk management advisory services; interactive fixed income analytics through its Web-based calculator, AnSer; outsourcing services, and investment accounting. BlackRock, Inc. (NYSE:BLK) Recent Trading Information
BlackRock, Inc. (NYSE:BLK) closed its last trading session down -1.84 at 384.05 with 441,246 shares trading hands.