Fidelity National Financial, Inc. (NYSE:FNFV) 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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liability company, Fidelity Newport Holdings, LLC (Holdings), a
Delaware limited liability company, and certain subsidiaries of
Holdings (the Guarantors), entered into a First Amendment to
Credit Agreement (the Amendment) with Wells Fargo Bank, National
Association (the Agent), as a lender and administrative agent, to
which certain terms of the Credit Agreement (the Credit
Agreement) dated as of August 19, 2014 by and among ABRH,
Holdings, the Agent, the Guarantors and the other lenders party
thereto were amended. Holdings is a non-wholly owned subsidiary
of Fidelity National Financial, Inc. (FNF), and ABRH is a
wholly-owned subsidiary of Holdings.
Revolving Credit Facility under the Credit Agreement was reduced
from $100 million to $60 million, and the letters of credit
sublimit under the Credit Agreement was reduced from $40 million
to $20 million. The Amendment also removed from the Credit
Agreement a provision that allowed ABRH to enter into up to $250
million of incremental loans, and modified the financial
covenants relating to certain leverage ratios under the Credit
Agreement to be less restrictive.
complete and is subject to, and qualified in its entirety by, the
full text of the Amendment, which is filed as Exhibit 10.1 hereto
and incorporated by reference herein.
Agreement
limited liability company (“BKIS”), a non-wholly owned subsidiary
of FNF, entered into a First Amendment to Credit and Guaranty
Agreement (the “Amendment”) with JPMorgan Chase Bank, N.A. as
administrative agent (the “Agent”), and the Agent on behalf of
the consenting lenders, to which certain terms of the Credit and
Guaranty Agreement (the Credit Agreement) dated as of May 27,
2015, by and among BKIS, Black Knight Financial Services, LLC,
the Agent, the guarantors party thereto, the other agents party
thereto and the lenders party thereto were modified and amended.
loan B facility under the Credit Agreement bears interest at
rates based upon, at the option of BKIS, either (i) the base rate
plus a margin of 125 basis points, or (ii) the Eurodollar rate
plus a margin of 225 basis points, subject to a Eurodollar rate
floor of 75 basis points. In addition, the Amendment permits the
previously announced tax-free distribution to which FNF intends
to distribute, together with the other transactions related
thereto, all 83.3 million shares of Black Knight Financial
Services, Inc. common stock that it currently owns to holders of
FNF Group common stock.
complete and is subject to, and qualified in its entirety by, the
full text of the Amendment, which is filed as Exhibit 10.2 hereto
and incorporated by reference herein.
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Item 9.01.
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Financial Statements and Exhibits
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Exhibit
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Description
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10.1
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First Amendment to Credit Agreement, dated as of
February 24, 2017, by and among ABRH, LLC, a Delaware limited liability company and Fidelity Newport Holdings, LLC, as the borrowers, and Wells Fargo Bank, N.A. as administrative agent |
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10.2
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First Amendment to Credit and Guaranty Agreement, dated
as of February 27, 2017, by and among Black Knight InfoServ, LLC, a Delaware limited liability company, as the borrower, and JPMorgan Chase Bank, N.A. as administrative agent |
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About Fidelity National Financial, Inc. (NYSE:FNFV)
Fidelity National Financial, Inc. (FNF) is a holding company. The Company is a provider of title insurance, technology and transaction services to the real estate and mortgage industries. The Company’s segments include Title, Black Knight, FNF Core Corporate and Other, Restaurant Group, and FNFV Corporate and Other. Its business is organized into groups, including FNF Core Operations and FNF Ventures (FNFV). The Company offers title insurance through its title insurance underwriters: Fidelity National Title Insurance Company, Chicago Title Insurance Company, Commonwealth Land Title Insurance Company, Alamo Title Insurance and National Title Insurance of New York Inc., which collectively issue more title insurance policies than any other title company in the United States. The Company, through its subsidiary, ServiceLink Holdings, LLC (ServiceLink), provides mortgage transaction services, including title-related services and facilitation of production and management of mortgage loans. Fidelity National Financial, Inc. (NYSE:FNFV) Recent Trading Information
Fidelity National Financial, Inc. (NYSE:FNFV) closed its last trading session down -0.45 at 12.20 with 310,208 shares trading hands.
