Fair Isaac enters new $200 million five-year revolving credit facility

By Aleesia Forni

Columbus, Ohio, Sept. 30 - Fair Isaac Corp. closed on a $200 million five-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The facility bears interest ranging from Libor plus 100 basis points to 162.5 bps, based on the company's leverage ratio.

The facility's commitment fees range from 17.5 bps to 30 bps.

Subject to certain terms and conditions, the facility may be increased to $300 million.

Proceeds may be used to refinance the company's debt outstanding, acquisitions, repurchase shares and working capital, as well as other general corporate purposes.

The company must maintain a fixed coverage ratio of no less than 2.50 to 1.00 and a total leverage ratio of no more than 3.00 to 1.00.

Wells Fargo Securities LLC and U.S. Bank NA are joint lead arrangers and bookrunners.

Wells Fargo Bank NA is administration agent, while U.S. Bank NA is syndication agent.

Fair Isaac is a Minneapolis-based provider of predictive analytics solutions.

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