TransUnion (TRU): debt financing — TransUnion Q4 revenue $954M (+6% YoY); guides FY2024 rev 3-5%; refinances $1.9B debt

TransUnion

2023-FY EPS reported -$1.07 revenue$3,831,200,000

Q4 2023 revenue $954M (+6% YoY); adjusted diluted EPS $0.80 vs $0.78 prior year; net income $6M.
Announced transformation plan targeting $120-140M annualized opex savings and $70-80M capex reduction by 2026.
Refinanced $1.895B Senior Secured Term Loan B-7 at SOFR+2.00%, matures Dec 1, 2028.
FY2024 guidance: revenue growth 3-5%, adjusted diluted EPS $3.57-$3.74; Q1 revenue $971-980M.
Identified material weakness in internal control over financial reporting due to cost classification error.

item 1.01 item 2.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TransUnion incurred term loan of $1,895,000,000 with Deutsche Bank AG New York Branch at term SOFR, subject to a 0.50% floor, plus an applicable margin of 2.00% or an al maturing December 1, 2028.

Instrument: term loan
Principal: $1,895,000,000
Counterparty: Deutsche Bank AG New York Branch
Rate: term SOFR, subject to a 0.50% floor, plus an applicable margin of 2.00% or an al
Maturity: December 1, 2028
Event: incurrence

Exact text from the filing

amended to refinance in full all of the Borrower’s outstanding 2021 Incremental Term B-6 Loans with a new tranche of Replacement Term Loans in an aggregate principal amount of $1,895,000,000 (the “2024 Replacement Term B-7 Loans”). In addition, all of the obligations under the Loan Documents were reaffirmed in all respects. The proceeds of the 2024 Replacement Term

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TransUnion reported the quarter and full-year ended December 31, 2023 results: revenue $954 million, EPS $0.03. Guidance reaffirmed.

Period: the quarter and full-year ended December 31, 2023
Revenue: $954 million
EPS: $0.03
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenue for the quarter was $954 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TransUnion entered into Amendment No. 22 to Third Amended and Restated Credit Agreement with Deutsche Bank AG New York Branch valued at Amendment No. 22 refinanced in full the Borrower's outstanding 2021 Incremental Term B-6 Loans with (effective 2024-02-08).

Action: entry
Agreement: credit facility
Counterparty: Deutsche Bank AG New York Branch
Value: Amendment No. 22 refinanced in full the Borrower's outstanding 2021 Incremental Term B-6 Loans with
Effective: 2024-02-08

Exact text from the filing

On February 8, 2024, TransUnion Intermediate Holdings, Inc. (“Holdings”), Trans Union LLC (the “Borrower”), certain wholly-owned subsidiaries of TransUnion (the “Company”), Deutsche Bank AG New York Branch, as the administrative agent, and the lenders party thereto entered into Amendment No. 22 (the “Amendment”) to the Third Amended and Restated Credit Agreement, dated as of August 9, 2017

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TransUnion filing history →

Source: SEC EDGAR

accession 0001552033-24-000017

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