FIS Says Borrowing Costs Have Been Cut; Substantial Part of Maturities Extended to 2017
FIS (NYSE: FIS), the world's largest provider of banking and payments technology, today announced the completion of the amendment and extension of its existing credit agreement.
The transaction resulted in the amendment of certain terms and conditions of the credit agreement, including the release of collateral when investment grade credit ratings are attained. The transaction also resulted in the extension of a substantial portion of Term Loan A and revolving loan maturities from 2014 to 2017 and a reduction in borrowing costs. There was no material change to FIS' total leverage as a result of the amendment.
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