EVO Payments International, LLC provides merchant acquiring and processing solutions for merchants, independent software vendors, financial institutions, independent sales organizations, government organizations, and multinational corporations in North America and Europe. It offers POS terminals and fully integrated software solutions; acquiring and payment transaction processing services; and fraud and loss prevention services. The company also provides various services, such as accelerated funding, advances on future transactions, cash back, check guarantees, dynamic currency conversion, dynamic transaction references, gift and loyalty programs, pre-paid cards, pre-litigation dunning, rece...
Ten Glenlake Parkway
Atlanta, GA 30328
EVO Payments International, LLC Enters into Restatement Agreement to First Lien Credit Agreement
Jun 14 18
On June 14, 2018, EVO Payments International, LLC (EPI), entered into a Restatement Agreement to First Lien Credit Agreement (the Restatement Agreement) among EPI, as borrower, the subsidiaries of the borrower identified therein, as guarantors, SunTrust Bank, as administrative agent (in such capacity, the Existing Administrative Agent), Citibank, N.A., as a closing documentation agent (in such capacity, the Lead Arranger), and the lenders party thereto, which amended and restated the First Lien Credit Agreement, dated as of December 22, 2016 (as amended by that certain Incremental Amendment Agreement dated October 24, 2017, as further amended by that certain First Amendment to the Credit Agreement dated as of December 22, 2017, as further amended by First Repricing Amendment dated as of December 22, 2017, as further amended by that certain Second Incremental Amendment Agreement dated April 3, 2018), among, inter alios, EPI, the guarantors described therein, the Existing Administrative Agent and the lenders from time to time party thereto, in its entirety (the Amended and Restated Credit Agreement). The Restatement Agreement extends the maturity of the revolving facility from December 22, 2021 to June 14, 2023, increases the revolving commitment under the Amended and Restated Credit Agreement by $65.0 million, to $200.0 million, and decreases the interest rate margins for the loans under the Amended and Restated Credit Agreement. Borrowings under the Amended and Restated First Lien Credit Facility bear interest at an annual rate equal to, at EPI's option, (a) a base rate, plus an applicable margin or (b) LIBOR, plus an applicable margin. The applicable margin for base rate revolving loans ranges from 0.75% to 2.00% per annum and for LIBOR revolving loans ranges from 1.75% to 3.00% per annum, in each case based upon achievement of certain consolidated leverage ratios. The applicable margin for base rate term loans is 3.25% and for LIBOR term loans is 2.25%, subject to a 25 basis point reduction upon an upgrade to the Company's Credit Rating. In addition to paying interest on outstanding principal, EPI is required to pay a commitment fee to the lenders in respect of the unutilized revolving commitments thereunder ranging from 0.25% to 0.5% per annum based upon achievement of certain consolidated leverage ratios. The Amended and Restated First Lien Credit Facility requires prepayment of outstanding loans, subject to certain exceptions and terms under the intercreditor agreement, with: (1) 100% of the net cash proceeds of non-ordinary course asset sales or other dispositions of assets (including casualty events) by EPI and its restricted subsidiaries, subject to reinvestment rights and certain other exceptions, and (2) 50% of the excess cash flow (subject to step-downs to 25% and 0% based on achievement of certain first lien leverage ratios). Upon a change of control, EPI is required to offer to prepay the loans at par.
EVO Payments International, LLC Presents at ETA Transact 2018, Apr-17-2018
Apr 14 18
EVO Payments International, LLC Presents at ETA Transact 2018, Apr-17-2018 . Venue: Las Vegas, Nevada, United States. Speakers: Domenico Cirone, Vice President Chargebacks Processing, Theresa Vitello, VP & Assistant General Counsel.
IOU Financial Inc. Partners with EVO Payments International - IOU & EVO to Cross-Promote Funding and Credit Card Processing
May 3 17
IOU FINANCIAL INC. announced its strategic partnership with EVO Payments International. Through this strategic partnership, IOU's direct clients will be able to take advantage of EVO's innovative merchant services solutions, save money, and allocate more capital to growth.