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Alliance Data Systems Corp Closes On Approximately $2.3 Billion New Credit Facility


Tuesday, 16 Jul 2013 07:30am EDT 

Alliance Data Systems Corp announced that the Company has completed a new $2.285 billion credit facility. The new facility consists of a $1,142.5 million term loan and a $1,142.5 million revolving credit facility for a total of $2.285 billion. In addition, the facility includes an uncommitted accordion feature of up to $500.0 million (or, in certain circumstances, up to $615.0 million) in the aggregate allowing for future incremental borrowings, subject to certain conditions. The proceeds will be used to finance general corporate and working capital needs, including the refinancing of existing indebtedness and the financing of acquisitions and other growth initiatives. The interest rate on the term loan is variable with a slight improvement in rate from previous deals. The facility matures July 2018. Lead agents on the bank facility were Merrill Lynch, Pierce, Fenner & Smith, Wells Fargo Securities, SunTrust Robinson Humphrey, J.P. Morgan Securities, Fifth Third Bank, and RBC Capital Markets. 

Company Quote

288.83
-4.1 -1.40%
30 Jan 2015