BofA Agents Verisk Revolver Increase to $975MM
Verisk Analytics announced it exercised an expansion feature under its revolving credit facility to increase the total facility to $975 million and extend the maturity until October 2018. Prior to this amendment, the facility totaled $850 million with a maturity date of October 2017. The maximum permitted debt to EBITDA covenant remains at 3.50x. According to an 8-K filing, Bank of America served as administrative agent, swing line lender and L/C issuer in the amendment.
According to the company’s 8-K filing, the unsecured revolver was amended by Bank of America as swing line lender and L/C issuer; Merrill Lynch and J.P. Morgan Securities as joint lead arrangers and joint book managers; JPMorgan Chase Bank as syndications agent; Morgan Stanley Bank and Wells Fargo Bank as co-documentation agents; and Bank of America as administrative agent.
The committed facility is available for general corporate purposes, including the company’s acquisition program.
Verisk Analytics is a provider of information about risk to professionals in insurance, healthcare, financial services, government, and risk management.