Item 1.01. Entry into a Material Definitive Agreement
Amendment to Third Amended and Restated Credit Agreement
Fourth Amendment
On June 20, 2018, the Company
entered into the Fourth Amendment to the Third Amended and Restated Credit Agreement dated as of June 20, 2018 (the Amendment), among the Company, EIG Investors Corp., a Delaware corporation (the Borrower), the lenders
party thereto, and Credit Suisse AG, Cayman Islands Branch, as issuing bank and administrative agent (solely in such capacity, the Administrative Agent), which amends the existing Third Amended and Restated Credit Agreement dated as of
November 25, 2013 (the Existing Credit Agreement), among the Company, the Borrower, the other Loan Parties party thereto, the lenders party thereto and the Administrative Agent, as amended by (i) the Revolving Facility
Amendment to Third Amended and Restated Credit Agreement dated as of February 9, 2016, among the Company, the Borrower, the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent, (ii) the Incremental Term
Loan Amendment to Third Amended and Restated Credit Agreement dated as of February 9, 2016, among the Company, the Borrower, the other Loan Parties party thereto, the lenders party thereto and the Administrative Agent, and (iii) the
Refinancing Amendment to Third Amended and Restated Credit Agreement dated as of June 14, 2017, among the Company, the Borrower, the other Loan Parties party thereto, the lenders party thereto and the Administrative Agent.
Pursuant to the Amendment, among other things, the Company (i) obtained $1.58 billion of refinancing first-lien term loans due February 2023 (the
Refinancing Loans), the proceeds of which were used to repay the Companys existing term loans due February 2023 in an aggregate principal amount of $1.58 billion, and (ii) extended $106.5 million of revolving
commitments, which will mature in June 2023 (with a springing maturity date in November 2022 unless the Refinancing Loans have been repaid in full or otherwise extended to at least 91 days after the maturity of the extended revolving
commitments). The full amount of the Refinancing Loans was drawn immediately following the effectiveness of the Amendment. The Refinancing Loans are priced at an interest rate of LIBOR + 3.75%.
For more information regarding the Existing Credit Agreement, see the Annual Report on Form
10-K
filed by the Company
on February 28, 2014 and Exhibit 10.24 thereto, which is incorporated by reference. For more information regarding the Revolving Facility Amendment and the Incremental Term Loan Amendment, see the Current Report on Form
8-K
filed by the Company on February 10, 2016 and Exhibits 10.1 and 10.2 thereto, which are each incorporated by reference. For more information regarding the Refinancing Amendment, see the Current Report on
Form
8-K
filed by the Company on June 14, 2017 and Exhibit 10.1 thereto, which is incorporated by reference.
The above description of the Amendment is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is attached hereto as
Exhibit 10.1 and incorporated herein by reference.
Entities owned by Goldman Sachs beneficially own, on an indirect basis, approximately 11% of the
Companys outstanding common stock.