First Data Corporation (NYSE:FDC) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Definitive Material
Agreement
2017 JanuaryJoinder Agreement with Respect to Credit
Agreement
On January23, 2017, First Data Corporation (the Company)
entered into a 2017 JanuaryJoinder Agreement (the Joinder
Agreement) relating to its Credit Agreement, dated as of
September24, 2007, as amended and restated as of September28,
2007, as further amended as of August10, 2010, March24, 2011,
March13, 2012 and August16, 2012, as modified as of September27,
2012 and February13, 2013, as further amended as of April10,
2013, April15, 2013, January30, 2014, July18, 2014 and June2,
2015 and as further modified as of July10, 2015, November24,
2015, April13, 2016, June2, 2016, October14, 2016 and December5,
2016, respectively, among the Company, the several lenders from
time to time parties thereto and Credit Suisse AG, Cayman Islands
Branch, as administrative agent.
to the Joinder Agreement, the Company incurred an aggregate
principal amount of $1.30 billion in new U.S. dollar denominated
term loans maturing on June2, 2020 (the 2020 Term A
Loans). The 2020 Term A Loans amortize in quarterly
installments equal to 1.25% of the initial aggregate outstanding
principal amount of the 2020 Term A Loans, with the first such
quarterly payment commencing on March31, 2017 and with any
outstanding principal amount of loans due in full on June2, 2020.
The interest rate applicable to the 2020 Term A Loans is a rate
equal to, initially, at the Companys option, either (a)LIBOR plus
200 basis points or (b)a base rate plus 100 basis points. The
interest rate on the 2020 Term A Loans may be reduced by 25 basis
points based on the Companys leverage ratio. The Company will use
the proceeds from the incurrence of the 2020 Term A Loans to
refinance a portion of its existing first lien indebtedness.
The foregoing description of the Joinder Agreement does not
purport to be a complete description and is qualified in its
entirety by reference to the full text of the Joinder Agreement,
which is filed as Exhibit4.1 hereto.
Item2.03.Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant
The information set forth in Item 1.01 of this Current Report on
Form8-K is incorporated by reference in this Item 2.03.
Item9.01 Financial Statements and
Exhibits
(d)Exhibits
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ExhibitNo. |
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4.1 |
2017 JanuaryJoinder Agreement, dated as of January23, 2017, |
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ExhibitA Marked Pagesof the Conformed Credit Agreement |
About First Data Corporation (NYSE:FDC)
First Data Corporation is an electronic commerce company. The Company is a merchant acquirer, issuer processor and independent network services provider, which enables businesses to accept electronic payments, helping financial institutions issue credit, debit and prepaid cards. Its segments include Global Business Solutions (GBS), which provides retail point-of-sale merchant acquiring and e-commerce services, as well as mobile payment services, Webstore-in-a-box solutions, and cloud-based Clover point-of-sale operating system; Global Financial Solutions (GFS), which provides credit solutions for bank and non-bank issuers and include credit and retail private-label card processing, as well as licensed financial software systems, such as its VisionPLUS bank processing application and lending solutions; Network & Security Solutions (NSS), Which provides a range of solutions that it sell to clients in its Global Business Solutions and Global Financial Solutions segments, and Corporate. First Data Corporation (NYSE:FDC) Recent Trading Information
First Data Corporation (NYSE:FDC) closed its last trading session up +0.07 at 15.89 with 2,738,691 shares trading hands.