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JPMorgan Chase Agents Acxiom’s $600MM Refinancing

October 14, 2013, 07:21 AM
Filed Under: Technology

Acxiom, an enterprise data, analytics and software-as-a-service (SaaS) company, announced a $600 million refinancing. 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 Co-Documentation Agents.

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.

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