ChoicePoint(R) Expands Debt Capacity to $1.025 Billion
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Company Enters Into 5-year $300 Million Term Loan
ALPHARETTA, Ga., Jan. 15 /PRNewswire-FirstCall/ -- ChoicePoint (NYSE: CPS)
today announced it has entered into a $300 million unsecured term loan credit
facility to pay down outstanding loans under its existing revolving credit
facility and fund general corporate purposes including share repurchases. As
a result of this transaction, ChoicePoint's debt capacity increased from $725
million to $1.025 billion. Wachovia Capital Markets, LLC acted as lead
arranger for the transaction, which included fifteen banks.
"We're very pleased by the support we received from our banks in the
current market environment," said ChoicePoint Treasurer John M. Mongelli.
"The transaction was oversubscribed by more than 50 percent, which is a
testament to the strength of our cash flows and provides us additional
capacity to execute our share repurchase program and fund key growth
initiatives, primarily in our insurance business."
About ChoicePoint
ChoicePoint (NYSE: CPS) provides businesses, government agencies and non-
profit organizations with technology, software, information and marketing
services to help manage economic and physical risks as well as identify
business opportunities. Consumers have free access to the reports we create
at www.ChoiceTrust.com. Learn what we do to protect consumer privacy by
visiting www.PrivacyatChoicePoint.com and, for more information on our
company, go to www.ChoicePoint.com.
ChoicePoint and the ChoicePoint logo are registered trademarks of
ChoicePoint Asset Company LLC.
SOURCE ChoicePoint
Investors, Carey Skinner, +1-770-752-3369, Carey.Skinner@choicepoint.com, or
Media, Chuck Jones, +1-770-752-3594, Chuck.Jones@choicepoint.com, both of
ChoicePoint
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