| Item 1.01 | Entry into a Material Definitive Agreement. |
Amended Credit Agreement
On March 2, 2021, Fidelity National Information Services, Inc. (“FIS”), JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto entered into a Fourth Amendment Agreement, dated as of March 2, 2021 (the “Amendment”), which further amends FIS’s existing Seventh Amended and Restated Credit Agreement dated as of September 21, 2018 (as amended by (i) that certain Amendment Agreement dated as of March 29, 2019, (ii) that certain Second Amendment Agreement dated as of April 5, 2019, (iii) that certain Third Amendment and Joinder Agreement as of May 29, 2019 and (iv) the Amendment, the “Amended Credit Agreement”). The Amendment extends the term of the Amended Credit Agreement to March 2, 2026. Under the Amended Credit Agreement, (i) the maximum leverage ratio will step down to 4.00:1.00 on March 31, 2021, 3.75:1.00 on September 30, 2021 and 3.50:1.00 on December 31, 2021 and (ii) the cap on cash-netting for the purposes of calculating the maximum leverage ratio is the sum of (x) up to $600,000,000 of unrestricted cash maintained in the U.S. (or that could be repatriated to the U.S., less applicable repatriation taxes) (“Qualified Cash”) plus (y) up to $800,000,000 of Qualified Cash held outside of the U.S. for regulatory purposes.
The foregoing descriptions of the Amendment and the Amended Credit Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such documents, copies of which are filed as Exhibit 10.1 hereto (such Exhibit consisting of the Amendment and, through its Annex A, the Amended Credit Agreement) and are hereby incorporated into this report by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this report is incorporated by reference into this Item 2.03.
Settlement of Any and All Tender Offer
On March 3, 2021, FIS completed the settlement of its previously announced tender offer (the “Any and All Tender Offer”) to purchase for cash any and all of its outstanding Floating Rate Senior Notes due 2021 (the “2021 Floating Rate Notes”), its outstanding 0.125% Senior Notes due 2021 (the “2021 Notes” and, together with the 2021 Floating Rate Notes, the “Euro Notes”), its outstanding 3.500% Senior Notes due 2023 (the “2023 Notes”), its outstanding 3.875% Senior Notes due 2024 (the “2024 Notes”), its outstanding 2.602% Senior Notes due 2025 (the “2025 Sterling Notes”), its outstanding 5.000% Senior Notes due 2025 (the “2025 Notes”) and its outstanding 3.000% Senior Notes due 2026 (the “2026 Notes” and, collectively with the 2023 Notes, the 2024 Notes and the 2025 Notes, the “Dollar Notes,” and the Dollar Notes together with the Euro Notes and the 2025 Sterling Notes, the “Any and All Notes”). The table below lists the aggregate principal amount of each series of Any and All Notes that were accepted for purchase and the aggregate principal amount that remains outstanding for each series of Any and All Notes following settlement.
| | | | |
Title of Notes | | Principal Amount Accepted for Purchase | | Principal Amount Outstanding After
Any and All Tender Offer |
Floating Rate Senior Notes due 2021 | | €54,260,000 | | €445,740,000 |
0.125% Senior Notes due 2021 | | €278,718,000 | | €221,282,000 |
3.500% Senior Notes due 2023 | | $334,101,000 | | $365,899,000 |
3.875% Senior Notes due 2024 | | $126,133,000 | | $273,871,000 |
2.602% Senior Notes due 2025 | | £453,033,000 | | £171,967,000 |
5.000% Senior Notes due 2025 | | $21,971,000 | | $589,957,000 |
3.000% Senior Notes due 2026 | | $592,626,000 | | $657,374,000 |
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