debt
confidence high
sentiment neutral
materiality 0.55
Broadridge enters $1.5B amended credit facility with five-year maturity
BROADRIDGE FINANCIAL SOLUTIONS, INC.
- New $1.5B credit agreement: $1.0B USD tranche plus $500M multicurrency tranches (CAD, EUR, GBP, SEK, JPY).
- Five-year term replaces prior April 2021 credit agreement; permits up to $500M additional commitments.
- Interest rates: Adjusted Term SOFR/CORRA/etc. plus spread ranging from 0.785% to 1.25% based on debt ratings.
- Facility fee: 0.090% to 0.250% per annum depending on credit ratings; swingline and LC subfacilities included.
- Negative covenants include maximum leverage ratio; events of default include change of control and cross-acceleration.