CSG Systems replaced its credit agreement of February 2015 with a new $350 million agreement led by Bank of America as administrative agent.
According to a related 8-K filing, Merrill Lynch and Wells Fargo Securities served as joint lead arrangers and joint bookrunners; Wells Fargo Bank was syndication agent; Compass Bank and HSBC were co-documentation agents and Bank of America was collateral agent, swingline lender and issuing bank.
The 2018 credit agreement provides borrowings in the form of:
- A $150 million aggregate principal five-year term loan
- A $200 million aggregate principal five-year revolving loan facility
With the $150 million proceeds from the 2018 term loan, CSG repaid the outstanding $120 million balance of the term loan under the 2015 credit agreement, resulting in a net increase of available cash by $30 million, a portion of which was used to pay certain fees and expenses in connection with the refinancing, and the remainder of which will be used for general corporate purposes.
CSG Systems International is a provider of business support solutions primarily serving the communications industry.