Euronet Worldwide Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Regulation FD Disclosure, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
On December 17, 2024, Euronet Worldwide, Inc. (the "Company") amended its existing unsecured revolving Credit Agreement (the "Agreement") to increase the facility from $1.25 billion to $1.9 billion. The Company also extended the maturity date by five years from December 17, 2024 to December 17, 2029.
The amended credit facility includes a multi-currency borrowing tranche totaling $1.685 billion and a USD borrowing tranche totaling $215 million. The amended facility also removes the credit spread adjustment on SOFR and SONIA borrowings. All other terms remain substantially the same as the Company’s prior credit facility.
The Agreement contains customary affirmative and negative covenants, events of default and financial covenants, including (all as defined in the Agreement): (i) a Consolidated Total Leverage Ratio, depending on certain circumstances defined in the Agreement, not to exceed a range between 3.5 to 1.0 and 4.5 to 1.0; and (ii) a Consolidated Interest Coverage Ratio of not less than 3.0 to 1.0.
The above description of the Agreement is a summary and does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Agreement which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
Item 7.01. Regulation FD Disclosure.
On December 17, 2024, the Company issued a press release announcing the signing of the Agreement. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
The information in Exhibit 99.1 is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1 | Second Amended and Restated Credit Agreement dated December 17, 2024 | |
| 99.1 | Press Release of Euronet Worldwide, Inc. dated December 17, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Euronet Worldwide, Inc. | ||
| By: | /s/ Adam Godderz | |
| Adam Godderz | ||
| General Counsel and Secretary | ||
Date: December 19, 2024
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INDEX TO EXHIBITS
| Exhibit Number |
Description | |
| 10.1 | Second Amended and Restated Credit Agreement dated December 17, 2024 | |
| 99.1 | Press Release of Euronet Worldwide, Inc. dated December 17, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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