LITTLE ROCK, Ark.--(BUSINESS WIRE)--
Acxiom® (Nasdaq: ACXM), an enterprise data, analytics and
software-as-a-service company, today announced a $600 million
The $600 million refinancing consists of a $300 million term loan and a
$300 million undrawn revolving credit facility. In addition, the
facility includes a $150 million uncommitted accordion feature allowing
for additional revolving capacity.
This refinancing gives the company more liquidity, lower borrowing rates
and lower fees. The facility matures in October 2018.
The proceeds of the term loan will be used to repay the company’s
existing $215 million term loan and for other general corporate purposes.
“It’s a great time to be in the debt markets given historically low
rates,” said Acxiom CFO Warren Jenson. “This debt facility gives us
additional liquidity and financial flexibility. We are pleased to be in
the position of having a strong balance sheet, excellent liquidity and
acquisition capacity. At the same time, the company is investing in
break-through technology and is committed to its ongoing $200 million
share repurchase program.”
JPMorgan Chase Bank, N.A. served as Administrative Agent for the
transaction, with J.P. Morgan Securities, LLC, Merrill Lynch, Pierce,
Fenner & Smith, Inc., the Bank of Tokyo-Mitsubishi UFJ, Ltd. and Wells
Fargo Securities, LLC as Joint Bookrunners and Joint Lead Arrangers.
SunTrust Bank, PNC Bank, N.A., Regions Bank and Compass Bank served as
Acxiom is an enterprise data, analytics and software-as-a-service
company that uniquely fuses trust, experience and scale to fuel
data-driven results. For over 40 years, Acxiom has been an innovator in
harnessing the most important sources and uses of data to strengthen
connections between people, businesses and their partners. Utilizing a
channel and media neutral approach, we leverage cutting-edge,
data-oriented products and services to maximize customer value. Every
week, Acxiom powers more than a trillion transactions that enable better
living for people and better results for our 7,000+ global clients. For
more information about Acxiom, visit Acxiom.com.