2024-02-07 16:15:49 ET
- Fleetcor Technologies, Inc. ( NYSE: FLT ) announced that it successfully closed on an amendment to its pro rata Term Loan A and Revolver A credit facilities.
- The transaction was leverage neutral and results in a $600M increase in the company’s capacity under its facilities.
- This amendment resulted in an increase to the Company’s revolver from $1.5B to $1.775B.
- In addition, the Company increased its borrowings under its Term Loan A facility by $325M and used those proceeds to paydown its revolver balance.
- The company anticipates using the increased debt facility to drive earnings growth through both M&A and repurchasing Fleetcor stock in 2024.
- Source: Press Release
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Fleetcor upsizes credit facility by $600M