Shift4 Payments, a wholly-owned subsidiary of Shift4 Payments, an integrated payments and commerce technology company, completed, on Sept. 5, 2024, a refinancing of its existing revolving credit facility with a second amended and restated first lien credit agreement entered into with Goldman Sachs Bank USA, as administrative agent and collateral agent, and the lenders and issuing banks party thereto, providing for a $450 million senior secured revolving credit facility, $112.5 million of which is available for the issuance of letters of credit.
The new revolving credit facility refinanced Shift4’s prior revolving credit facility under the amended and restated first lien credit agreement entered into on Jan. 29, 2021 with UBS AG, Cayman Islands Branch (as successor to Credit Suisse AG, Cayman Islands Branch), as the original administrative agent and collateral agent, and the lenders and issuing banks party thereto, as amended.
“We are pleased with the flexibility that this increased credit facility affords us as we continue to grow around the world, and we thank each of the institutions involved for their commitment and confidence in Shift4,” Nancy Disman, chief financial officer of Shift4 Payments, said.
Borrowings under the revolving credit facility bear interest at a rate per annum equal to, at Shift4’s option, either a term SOFR based rate (subject to a 0.0% floor), plus an applicable margin of 2.00%, or an alternate base rate (equal to the highest of the federal funds effective rate plus 0.50%, the term SOFR rate for an interest period of one month (subject to a 0.0% floor) plus 1.00%, and the prime rate announced by the administrative agent from time to time), plus an applicable margin of 1.00%. The revolving credit facility is scheduled to mature on Sept/ 5, 2029.
The new revolving credit facility was undrawn at closing.
