Item 1.01.
Entry into a Definitive Material Agreement
2017 November Joinder Agreement with Respect to Credit Agreement
On November 15, 2017, First Data Corporation (the
Company
) entered into a 2017 November Joinder Agreement (the
Joinder Agreement
) relating to its Credit Agreement, dated as of September 24, 2007, as amended and restated as of September 28, 2007, as further amended as of August 10, 2010, March 24, 2011, March 13, 2012 and August 16, 2012, as modified as of September 27, 2012 and February 13, 2013, as further amended as of April 10, 2013, April 15, 2013, January 30, 2014, July 18, 2014 and June 2, 2015 and as further modified as of July 10, 2015, November 24, 2015, April 13, 2016, June 2, 2016, October 14, 2016, December 5, 2016, January 23, 2017, April 26, 2017 and June 14, 2017, respectively, among the Company, the several lenders from time to time parties thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent.
Pursuant to the Joinder Agreement, the Company incurred an aggregate principal amount of approximately $3.892 billion in new U.S. dollar denominated term loans maturing on April 26, 2024 (the
2024A New Dollar Term Loans
). The interest rate applicable to the 2024A New Dollar Term Loans is a rate equal to, initially, at the Companys option, either (a) LIBOR plus 225 basis points or (b) a base rate plus 125 basis points. The interest rate on the 2024A New Dollar Term Loans may be reduced by 25 basis points based on the Companys corporate family rating. The Company used the proceeds from the incurrence of the 2024A New Dollar Term Loans to refinance all of its existing U.S. dollar denominated term loans maturing on April 26, 2024.
The foregoing description of the Joinder Agreement does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Joinder Agreement, which is filed as Exhibit 4.1 hereto.