Ceridian extends revolver maturity to 2025, swaps Sonia for Libor

By Marisa Wong

Los Angeles, Dec. 16 – Ceridian HCM Holding Inc. entered into a second amendment on Dec. 15 to its credit agreement dated April 30, 2018 with Deutsche Bank AG New York Branch as administrative agent to extend the maturity date of the revolving commitments to Jan. 29, 2025 from April 30, 2023, according to an 8-K filing with the Securities and Exchange Commission.

The interest rate for sterling-denominated borrowings was changed to a daily simple Sonia-based rate from a Libor-based rate.

The applicable margin for eurocurrency rate, Sonia and CDOR loans generally ranges from 225 basis points to 275 bps, depending on the company’s consolidated first-lien leverage ratio.

Ceridian is a Minneapolis-based human resources software company.

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