8-KMaterial AgreementsFinancial EventsOther Events+1

Fidelity National Information Services, Inc. 8-K Report, Material Agreement (Mar 30, 2012)

Filed March 30, 2012For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) filed an 8-K on March 30, 2012, to report material changes to its credit facilities. The company entered into a Third Amendment and Restatement of its Credit Agreement, significantly restructuring its debt obligations. Key changes include the creation of new Term A-3 Loans and 2017 Revolving Credit Commitments, both maturing in March 2017, and the conversion of existing Term A-2 Loans and 2014 Revolving Credit Commitments into these new facilities. The amendment also facilitates the repayment of a portion of existing Term A-2 and Term B Loans, and the full repayment and termination of the 2014 Revolving Credit Commitments, using proceeds from the new Term A-3 Loans and initial borrowings under the 2017 Revolving Credit Commitments. Additionally, new lenders joined the credit facility, providing further Term A-3 Loans and increasing the 2017 Revolving Credit Commitments, totaling $552.8 million in new term loans and $233.4 million in new revolving commitments.

Key Highlights

  • 1FIS amended and restated its credit agreement on March 30, 2012, introducing new debt facilities and modifying existing ones.
  • 2New Term A-3 Loans and 2017 Revolving Credit Commitments were established, both maturing on March 30, 2017.
  • 3Existing Term A-2 Loans and 2014 Revolving Credit Commitments were converted into the new Term A-3 Loans and 2017 Revolving Credit Commitments, respectively.
  • 4Proceeds from the new facilities were used to partially repay Term A-2 and Term B Loans, and fully repay and terminate the 2014 Revolving Credit Commitments.
  • 5New lenders joined the agreement through a Commitment Increase and Joinder Agreement, adding $552.8 million in Term A-3 Loans and $233.4 million in 2017 Revolving Credit Commitments.
  • 6The aggregate amount of funded loans and available commitments under the Restated Credit Agreement post-transaction is $3,700.0 million, comprising Term A-2, Term B, Term A-3 Loans, and 2017 Revolving Credit Commitments.
  • 7Interest rates on the new facilities vary based on a ratings-based pricing grid, with options for Eurocurrency Rate or Base Rate plus applicable margins.

Frequently Asked Questions

This 8-K filing announces that Fidelity National Information Services, Inc. (FIS) has entered into a Third Amendment and Restatement of its Credit Agreement, which significantly modifies its existing debt structure and introduces new credit facilities.

The company created new Term A-3 Loans and 2017 Revolving Credit Commitments, both maturing in March 2017. Existing Term A-2 Loans and 2014 Revolving Credit Commitments were converted into these new facilities. Additionally, a portion of existing Term B Loans and some Term A-2 Loans were prepaid, and the 2014 Revolving Credit Commitments were fully repaid and terminated.

The restructuring aims to extend maturities, with new loans and commitments maturing in 2017. It also involves refinancing and repaying certain existing debt obligations, using new borrowings to do so. The filing indicates a total of $3,700.0 million in loans and commitments outstanding after these transactions.

Yes, a Commitment Increase and Joinder Agreement brought in new lenders who provided $552.8 million in additional Term A-3 Loans and $233.4 million in additional 2017 Revolving Credit Commitments to FIS.