CSC Asset Funding and Computer Sciences Corporation entered into an amended and restated master loan and security agreement with Banc of America Leasing & Capital as lender and Bank of America as administrative agent. The agreement amends and restates the May 28, 2014 agreement between the parties of which approximately $49 million remains outstanding.

The agreement provides for a $150 million committed lease credit facility to finance certain capital expenditures of IT equipment and associated software used in support of IT services provided to the company’s customers and clients. The drawdown period of the leasing facility expires November 29, 2016 and, once drawn, converts into individual term notes of varying terms not to exceed 60 months, depending upon the nature of the underlying equipment being financed.

During the drawdown period, CSC Asset Funding shall pay the lender a fee equal to 0.15% per annum on the average daily amount of the undrawn commitments under the agreement payable in arrears at the end of each fiscal quarter. The drawn principal amount of the notes will accrue interest at the LIBOR+1.0% per annum. CSC Asset Funding’s obligations under the leasing facility are secured by the financed IT equipment and associated software and related assets (including the leases of such equipment and software), and are guaranteed by the company.

The joint lead arrangers on the leasing facility are Banc of America Leasing & Capital and Bank of Tokyo-Mitsubishi UFJ. The leasing facility provides that prepayment of outstanding amounts, in whole or in part, is permitted at any time without penalty or premium, other than customary LIBOR breakage.