Transaction extends debt maturity, reduces borrowing costs and enhances financial flexibility
EVERTEC, Inc. (“Evertec” or the “Company”), a leading financial technology company in Latin America and the Caribbean, announced that it has entered into an amended and restated credit agreement that extends the maturity of its Term Loan A and revolving credit facilities and provides the Company with continued financial flexibility to support its strategic priorities.
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Under the amended agreement, EVERTEC’s approximately $388 million Term Loan A has been extended for up to five years, while pricing on the facility has been reduced by 25 basis points compared with the prior pricing grid. The revolving credit facility was also extended and repriced 25 basis points lower, while its capacity increased from $200 million to $300 million, enhancing available liquidity and financial flexibility.
“We are very pleased with the terms of our renewed credit facilities and the strong support we received from our banking partners,” said Karla Cruz-Jusino Chief Financial Officer of EVERTEC. “The transaction extends our maturity profile, lowers our borrowing costs and provides additional financial flexibility as we continue to execute our strategy and pursue disciplined growth across Puerto Rico and Latin America.”
Truist Bank served as administrative agent and collateral agent in connection with the facilities.
Truist Securities, Inc., Banco Popular de Puerto Rico, Citizens Bank, N.A, FirstBank Puerto Rico, Fifth Third Bank, National Association, and The Huntington National Bank acted as joint lead arrangers.
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