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Fidelity National Information enters $1.5 billion three-year term loan
By Marisa Wong
Morgantown, W.Va., Sept. 3 – Fidelity National Information Services, Inc. entered into a term loan credit agreement on Sept. 1 for a $1.5 billion dollar-denominated term facility maturing three years from the initial funding date, according to an 8-K filing with the Securities and Exchange Commission.
The credit agreement is available for one drawing to be made on the initial funding date to fund part of the consideration for the company’s acquisition of SunGard and for other general corporate purposes.
The facility is also available for an additional drawing if any of the SunGard notes remain outstanding after the closing date of the acquisition and the borrower does not draw on the entire principal amount on the initial funding date. The additional draw would be used to fund any repayment of the SunGard notes in an amount not exceeding the remaining undrawn commitments under the credit agreement.
Loans will bear interest Libor plus an applicable margin based on the company’s credit rating. The applicable margin ranges from 100 basis points to 175 bps.
There is also a commitment fee of 10 bps to 25 bps, depending on ratings.
Merrill Lynch, Pierce, Fenner & Smith Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Bank of Tokyo-Mitsubishi UFJ, Ltd., Credit Agricole CIB and U.S. Bank NA are the joint lead arrangers; Merrill Lynch, Pierce, Fenner & Smith Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the joint bookrunners; Bank of America, NA is administrative agent; Wells Fargo Bank, NA is syndication agent; and JPMorgan Chase Bank, NA, Bank of Tokyo-Mitsubishi UFJ, Ltd., Credit Agricole CIB and U.S. Bank NA are documentation agents.
Based in Jacksonville, Fla., the company focuses on banking and payments technologies.
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