Brink’s closed a $1.5 billion credit facility that includes a $1 billion senior secured revolving credit facility and a $500 million senior secured term loan A.
According to a related 8-K filing, Wells Fargo served as administrative agent, issuing lender and swingline lender for the transaction. The Bank of Tokyo-Mitsubishi, Bank of America, and JPMorgan Chase Bank served as co-syndication agents. Wells Fargo Securities, The Bank of Tokyo-Mitsubishi, Merrill Lynch and JPMorgan Chase Bank were joint lead arrangers and joint bookrunners.
Loans under the revolver and term loan mature in 2022 and interest rates float based on a consolidated net leverage grid.
Proceeds from the notes and the credit facility are expected to be used to repay certain existing indebtedness and certain fees and expenses related to the closing of the transactions. Remaining net proceeds are expected to be used for working capital needs, capital expenditures, acquisitions and other general corporate purposes.
Brink’s is a provider of secure logistics and security solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), international transportation of valuables and payment services.