Item 1.01. Entry into a Material Definitive Agreement.
On
Term Loan Amendment No. 2 makes certain changes to the Term Loan Credit Agreement, including without limitation, the following:
· Extends the maturity date from
· Allows an additional draw of
25, 2021 in order to fund a portion of the previously announced acquisition of
· Modifies the applicable margin paid on the loans to 65 basis points regardless
of the Company's debt rating;
· Adds London Interbank Offered Rate (LIBOR) replacement provisions, generally
transitioning to a hardwired approach based on secured overnight financing rate
(SOFR), with certain adjustments as further described in the Term Loan
Amendment No. 2;
· Increased the amount of indebtedness certain subsidiaries may incur from the
greater of (x)
consecutive quarters to the greater of (x)
consolidated EBITDA for four consecutive quarters;
· Allows the Company to increase the maximum permitted consolidated leverage
ratio to 4.00 to 1.00 (from 3.50 to 1.00) for four consecutive fiscal quarters
following certain acquisitions, provided this increase may be made only once;
and
· Modifies certain other provisions to be consistent with the Company's revolving
credit agreement.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Term Loan Amendment No. 2 which is filed to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Description 10.1 Amendment No. 2 to Term Loan Credit Agreement, dated as ofJune 25, 2021 , by and amongCboe Global Markets, Inc. ,Bank of America, N.A ., as administrative agent and initial lender 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document)
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