Last $63.36 USD
Change Today +0.95 / 1.52%
Volume 1.1M
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As of 8:04 PM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

fidelity national informatio (FIS) Key Developments

Fidelity National Information Services, Inc.(NYSE:FIS) added to S&P 500 Value Index

Fidelity National Information Services, Inc.(NYSE:FIS) added to S&P 500 Value Index

Fidelity National Information Services, Inc Enters Fifth Amendment and Restatement of Credit Agreement

On December 18, 2014, Fidelity National Information Services, Inc. (FIS), the other financial institutions party thereto as lenders, certain financial institutions as swing line lenders and letter of credit issuers and JPMorgan Chase Bank, N.A., as administrative agent, entered into a fifth amendment and restatement agreement dated as of December 18, 2014. Pursuant to the amendment agreement, the fourth amended and restated credit Agreement, dated as of April 23, 2013, among FIS and certain subsidiaries of FIS party thereto from time to time, as borrowers, the administrative agent, and certain other parties thereto, was amended and restated in the form of that certain fifth amended and restated credit agreement dated as of December 18, 2014. The amendment agreement amends and restates the existing credit agreement to provide an aggregate amount of $4.3 billion of term loans and revolving credit commitments under the restated credit agreement as follows: the term loans outstanding under the existing credit agreement maturing on March 30, 2017 in the principal amount of $1.3 billion are replaced with new term loans, with no change in principal amount or maturity, under the restated credit agreement; and the revolving credit commitments under the existing credit agreement maturing on March 30, 2017 in the aggregate principal amount of $2.0 billion are terminated and replaced with new revolving credit commitments under the restated credit agreement maturing on December 18, 2019 in the aggregate principal amount of $3.0 billion. In addition, the restated credit agreement modifies the existing credit agreement to eliminate the requirement that FIS' subsidiaries guaranty the obligations of FIS under the restated credit agreement and makes certain other revisions to the existing credit agreement. All loans under the restated credit agreement will bear interest at a rate that varies according to a ratings-based pricing grid. In addition, the revolving credit commitments are subject to a commitment fee on the unused portion of such commitments based on a ratings-based pricing grid.

Fidelity National Information Services Inc Enters into a Partnership with Fifth Third Bank

Fidelity National Information Services Inc. has announced that it has entered into a partnership with Fifth Third Bank. The partnership will offer payment technology solutions. Fidelity will provide its C2P Open Payments Platform services to Fifth Third Bank in a bid to simplify payment services for corporate customers.

Fifth Third Bank Selects FIS for its C2P Open Payments Platform

Fifth Third Bank has selected FIS for its C2P Open Payments Platform. Clear2Pay [2] was acquired by FIS in October. The solution is built on the Open Payments Platform, which enables corporate customers to manage any type of payment through their payments portal with Fifth Third, ranging from account transfers to over time international and domestic ACH and wire transactions. This provides customers with one view on all payments initiated through the portal and it allows for approval workflows to be shared across payment types. Fifth Third equally benefits by being able to manage all payment types for these clients through one single application, whilst facilitating smooth integration with payment execution systems across the various payment channels. The project went live in October 2013 to a limited client base with account transfers first, followed by ACH and wire. A full-scale roll out to their 16,000 medium and large business customers started in April 2014. This implementation is viewed by both parties as the cornerstone project upon which the bank will continue to build toward a data-enriched, channel agnostic, single view on customer transactions of any type.

FIS Announces Launch of the Capital Markets First Derivatives Post-Trade Utility Solution

FIS announced the launch of the capital markets first derivatives post-trade utility solution in partnership with Crédit Agricole Corporate & Investment Bank. This IT platform allows investment banking firms worldwide to share IT services for cross-asset derivatives. The sharing by corporate and investment banks of their activities and resources, from trade booking to sub-ledger management, reduces their unit cost of execution and increases efficiency. The utility combines the existing platform of Crédit Agricole CIB with the large-scale and deep financial services capabilities and expertise of FIS and was designed to meet the needs of corporate and investment banking firms.

 

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FIS

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Valuation FIS Industry Range
Price/Earnings 32.2x
Price/Sales 2.8x
Price/Book 2.7x
Price/Cash Flow 31.9x
TEV/Sales 1.9x
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