FLEETCOR® Completes Credit Facility Extension and Upsizing
The term loan A was increased from $2.72 billion to $3 billion and the revolving credit facility was increased from $1.285 billion to $1.5 billion.
- The term loan A was increased from $2.72 billion to $3 billion and the revolving credit facility was increased from $1.285 billion to $1.5 billion.
- The pro-rata credit facility was converted from a LIBOR to SOFR base rate with margins on borrowings approximately 12.5 bps lower than the pro-rata facility pre-amendment.
- FLEETCOR anticipates using the increased debt facility for general corporate purposes and to fund future acquisitions.
- The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments on behalf of, their employees and suppliers.