Global PaymentsInc. and certain of its wholly owned subsidiaries on March 29 enteredinto a lender joinder agreement to an amended credit facility , pursuant to which the Bank ofthe Philippine Islands will provide a $50 million delayed draw term loan commitment.
As a result, the amount of delayed draw term loan commitmentsunder the amended credit facility agreement will be increased to $735 million from$685 million. The material terms of the amended credit facility agreement are otherwiseunchanged.
According to a Form 8-K filed March 31, the agreement was enteredinto by company and certain of its wholly owned subsidiaries as borrowers, Bankof America as administrative agent, and Bank of the Philippine Islands as a newlender.
The amended credit facility agreement allows for the additionof approximately $1.095 billion of term B loans in connection with the planned of Heartland Payment Systems Inc. The increase in the delayeddraw term loan commitments, if drawn at the closing of the Heartland acquisitionas expected, will result in a corresponding decrease in the anticipated initialaggregate principal balance of the term B loan facility to $1.045 billion.
In addition, Global Payments and Bank of America successfullysyndicated the $1.045 billion term B loan facility which, together with the existingcommitments from the lenders under the amended credit facility agreement, will providethe financing necessary to complete the Heartland acquisition.