CACI International Inc (NYSE:CACI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
On December 28, 2018, CACI, Inc. Federal, a wholly-owned
subsidiary of CACI International Inc (the Company), and certain
of its subsidiaries (the Sellers) entered into a Master Accounts
Receivable Purchase Agreement (the Purchase Agreement), among the
Sellers, the Company, MUFG Bank, Ltd., as administrative agent
(the Agent), and certain purchasers party thereto.
The Purchase Agreement establishes a committed, one-year facility
(the Facility) that provides for up to $200 million (the Facility
Limit) in funding based on the availability of eligible
receivables and the satisfaction of certain conditions. The
Facility Limit may be reduced or increased from time to time to
the terms of the Purchase Agreement. In connection with the
Facility, the Company entered into a Performance Undertaking (the
Performance Undertaking) in favor of the Agent that guarantees
the obligations of the Sellers under the Purchase Agreement.
Under the Facility, the Sellers will sell certain designated
eligible receivables, including both receivables that have
already been billed under an invoice and also certain unbilled
receivables arising from contracts where the Sellers have
performed work under a cost plus fixed fee, time and materials,
or cost plus award or incentive fee contract, although the
Sellers will not be permitted to sell unbilled receivables
related to any award or incentive fees under such contracts. The
structured transaction results in the continuous non-recourse
true sale of the purchased eligible receivables.
The Company expects to use the proceeds from receivables sales
under the Facility for general corporate purposes.
The description of the Facility contained herein is qualified in
its entirety by the terms of the Purchase Agreement and the
Performance Undertaking, which are filed as Exhibit 10.1 and
Exhibit 10.2 hereto, respectively, and incorporated herein by
Item 2.03Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information included in Item 1.01 of this Current Report on
Form 8-K is also incorporated by reference into this Item 2.03 of
this Current Report on Form 8-K.
Item 9.01Financial Statement and Exhibits.
Master Accounts Receivable Purchase Agreement, dated
Performance Undertaking, dated December 28, 2018, made by
CACI INTERNATIONAL INC /DE/ Exhibit
EX-10.1 2 caci-ex101_7.htm EX-10.1 caci-ex101_7.htm MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT among CACI INTERNATIONAL INC as Seller Representative and CACI,…
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About CACI International Inc (NYSE:CACI)
CACI International Inc is a simulation technology company. The Company provides information solutions and services. The Company operates through two segments: domestic operations and international operations. It serves clients in the United States federal government and commercial markets, primarily throughout North America and internationally on behalf of the United States customers, as well as in the United Kingdom and the Netherlands. The Company’s primary customers are agencies and departments of the United States government. The Company’s domestic operations segment provides information solutions and services to its domestic customers in market areas, which include business systems; command and control; communications; cyber security, and enterprise information technology. Its international operations are conducted through its subsidiaries in Europe, including CACI Limited and CACI BV. Its international operations segment provides IT services, and data and software products.