Global Payments Inc., a leading worldwide provider of payment technology and software solutions, successfully closed an amendment to its credit facilities agreement on June 19, 2018. Under the terms of the refinancing amendment, the interest rate margin currently applicable to the company’s existing term loan A, term loan A-2 and revolving credit facilities was reduced by 25 basis points, subject to future adjustments based on an amended leverage-based pricing grid. The amendment also increased the aggregate financing capacity under the company’s revolving credit facility by $250 million to $1.5 billion, although total outstanding borrowings remain unchanged as a result of the amendment.

The amendment extended the maturities of the term loan A, the term loan A-2 and the revolving credit facilities to January 2023. Further, the company improved certain terms of the agreement, providing it with additional financial flexibility.

"We are delighted to announce the successful completion of the refinancing of our existing debt facilities," stated Cameron Bready, Senior Executive Vice President and Chief Financial Officer. "In addition to improving our liquidity position and extending the maturity of our term loan A, term loan A-2 and revolving credit facilities, today’s refinancing in combination with the amendment to our term loan B announced in March are expected to yield $0.02 - $0.03 per share of annual benefit, net of anticipated expenses associated with further planned interest rate hedging activities.”