TheUSD-EUR Term Facilities contains representations, warranties, and covenants customary for facilities of this type, as well as customary events of default, substantially consistent with the Revolving Credit Facility, the AUD Term Facility and the U.K. Term Facility, including (i) cross payment event of default with respect to indebtedness of at least $250 million or other events if the effect is to accelerate or permit acceleration of such indebtedness and (ii) the occurrence of a change of control. In addition, under theUSD-EUR Term Facilities, we are required to maintain a ratio of EBITDA to interest expense of no less than 3.00 to 1.00 for any four quarter period ending at the end of a fiscal quarter and a leverage ratio of total debt to EBITDA of no more than 3.00 to 1.00 as of the end of each fiscal quarter, giving pro forma effect to the financial impact of acquisitions or dispositions during the latest twelve month fiscal period, and including the effect of expected near-term (realizable within 12 months) certain operational and cost synergy actions.
TheUSD-EUR Term Facilities include various customary remedies for the lenders thereunder following an event of default, including the acceleration of repayment of outstanding amounts due under theUSD-EUR Term Facilities.
As of December 31, 2019, the 2019 TrancheA-1 Loans were funded in an aggregate principal amount of $486 million, the 2019Tranche A-2 Loans were funded in an aggregate principal amount of €749 million and the 2019Tranche A-3 Loans were funded in an aggregate principal amount of €748 million.
CSC Notes and 2022 Notes
On September 18, 2012, CSC issued in a registered offering its 4.450% Senior Notes due 2022 (the “CSC Notes”) under a Base Indenture, dated as of September 18, 2012, between CSC and The Bank of New York Mellon Trust Company, N.A., as trustee, as amended and supplemented by the First Supplemental Indenture thereto, dated as of September 18, 2012, between CSC and the trustee (together, the “CSC Indenture”). Interest on the CSC Notes is payable on September 15 and March 15 of each year, and the CSC Notes mature on September 18, 2022.
On August 9, 2017, we completed an exchange offer (the “CSC Exchange”), whereby $274 million aggregate principal amount of CSC Notes were tendered in exchange for a like aggregate principal amount of 4.45% Senior Notes due 2022 (the “2022 Notes”) issued by us. Upon completion of the CSC Exchange, $171 million aggregate principal amount of CSC Notes remained outstanding.
The 2022 Notes were issued by us under the Base Indenture, as supplemented by the second supplemental indenture thereto, dated as of August 9, 2017. Interest on the 2022 Notes is payable on September 15 and March 15 of each year, and the 2022 Notes mature on September 18, 2022.
2024 Notes and 2027 Notes
On March 27, 2017, we issued in an unregistered offering 4.250% Senior Notes due 2024 (the “Old 2024 Notes”) and 4.750% Senior Notes due 2027 (the “Old 2027 Notes” and, together with the Old 2024 Notes, the “Old Notes”). In connection with the issuance of the Old Notes, we entered into a registration rights agreement, dated March 27, 2017, by and among DXC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc. and RBC Capital Markets, LLC, as representatives of the initial purchasers named therein, which provides the holders of the Old Notes certain rights relating to the registration of new notes under the Securities Act of 1933, as amended (the “Securities Act”).
On August 9, 2017, we completed a registered exchange offer (the “DXC Exchange”), whereby $500 million aggregate principal amount of Old 2024 Notes and $500 million aggregate principal amount of Old 2027 Notes were tendered in exchange for a like aggregate principal amount of new 4.250% Senior Notes due 2024 (the “2024 Notes”) and 4.750% Senior Notes due 2027 (the “2027 Notes” and, together with the 2024 Notes, the “New Notes”), respectively. The terms of the New Notes are identical in all material respects to the
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