FIS Increases And Extends Its Unsecured Revolving Credit Facility

(RTTNews) - FIS (FIS) said that it has completed an amendment and restatement of its existing revolving credit agreement that increases its borrowing capacity under the unsecured revolving facility from $3.0 billion to $4.0 billion and extends the term of the agreement to September 21, 2023.

As per the terms of the amended and restated revolving credit facility, the maximum leverage ratio remains at 3.50x with potential step-ups to 4.00x or 4.50x following acquisitions of a certain size.

In addition, FIS has established a new U.S. Commercial Paper Program under which it may issue, on a private placement basis, senior unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $4.0 billion.

Under the Commercial Paper Program, FIS may issue notes from time to time, with maturities that vary, but do not exceed 397 days from the date of issue.

Borrowings under the amended credit agreement will be used for general corporate purposes, including backstopping any notes that FIS may issue under the newly established Commercial Paper Program.