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425
FIDELITY NATIONAL INFORMATION SERVICES, INC. filed this Form 425 on 05/13/2019
Entire Document
 


Worldpay, Inc.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)

 

6. LONG-TERM DEBT

As of March 31, 2019 and December 31, 2018, the Company’s long-term debt consisted of the following (in millions):

 

     March 31, 2019      December 31, 2018  

Term A loan, maturing in January 2023(1)

   $ 3,228.6      $ 3,271.1  

Term A loan, maturing in January 2023 (2)

     602.9        597.6  

Term B loan, maturing in October 2023

     —          520.1  

Term B loan, maturing in August 2024(3)

     1,737.5        1,741.8  

Senior Unsecured Dollar Notes, maturing in November 2025(4)

     500.0        500.0  

Senior Unsecured Sterling Notes, maturing in November 2025(5)

     611.9        598.5  

Senior Unsecured Euro Note, maturing in November 2022(6)

     605.4        617.5  

Leasehold mortgage, expiring on August 10, 2021(7)

     10.0        10.0  

Revolving credit facility, expiring in January 2023(8)

     246.0        50.0  

Less: Current portion of notes payable

     (219.3      (225.7

Less: Original issue discount

     (4.7      (6.2

Less: Debt issuance costs

     (49.0      (52.6
  

 

 

    

 

 

 

Notes payable

   $ 7,269.3      $ 7,622.1  
  

 

 

    

 

 

 

 

 

(1)

Interest at a variable base rate (LIBOR) plus a spread rate (150 basis points) (weighted average rate of 3.95% at March 31, 2019) and amortizing on a basis of 1.25% per quarter during each of the first twelve quarters (June 2018 through March 2021), 1.875% per quarter during the next four quarters (June 2021 through March 2022) and 2.50% per quarter during the next three quarters (June 2022 through December 2022) with a balloon payment due at maturity.

(2) 

£463 million principal outstanding, translated to U.S dollars at the spot rate of 1.3020 U.S. dollars per Pound Sterling at March 31, 2019. Interest at a variable base rate (GBP LIBOR) plus a spread rate (150 basis points) (total rate of 2.23% at March 31, 2019) and amortizing on a basis of 1.25% per quarter during each of the first twelve quarters (June 2018 through March 2021), 1.875% per quarter during the next four quarters (June 2021 through March 2022) and 2.50% per quarter during the next three quarters (June 2022 through December 2022) with a balloon payment due at maturity.

(3) 

Interest payable at a variable base rate (LIBOR) plus a spread rate (175 basis points) (weighted average rate of 4.21% at March 31, 2019) and amortizing on a basis of 0.25% per quarter, with a balloon payment due at maturity.

(4) 

$500 million principal senior unsecured notes with interest payable semi-annually at a fixed rate of 4.375% and principal due upon maturity.

(5) 

£470 million principal senior unsecured notes with interest payable semi-annually at a fixed rate of 3.875% and principal due upon maturity. The spot rate of 1.3020 U.S. dollars per Pound Sterling at March 31, 2019 was used to translate the Note to U.S. dollars.

(6) 

€500 million principal senior unsecured note with interest payable semi-annually at a fixed rate of 3.75% and principal due upon maturity. The spot rate of 1.1229 U.S. dollars per Euro at March 31, 2019 was used to translate the Note to U.S. dollars. Includes remaining unamortized fair value premium of $43.9 million at March 31, 2019.

(7) 

Interest payable monthly at a fixed rate of 6.22%.

(8) 

Available revolving credit facility of $1.25 billion borrowing interest at a variable base rate (total rate of 6.0% at March 31, 2019).

 

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