Business Context and Reporting Period
SS&C Technologies Holdings Inc. filed this Form 8-K on November 26, 2014, to report a material financial event. The filing details a drawdown on the company's revolving credit facility to partially fund the acquisition of DST Global Solutions Ltd., a subsidiary of DST Systems, Inc., which was completed on November 30, 2014.
Key Financial Metrics
- Acquisition Price: $95 million for DST Global Solutions Ltd.
- Debt Drawdown: $75 million drawn from the Revolving Credit Facility on November 26, 2014.
- Credit Facility Capacity: The Revolving Credit Facility has total commitments of $100 million.
- Revenue, Profit, and Cash Flow: The filing text does not provide specific values for revenue, profit, cash flow, margins, or overall liquidity positions.
Material Changes
The primary material change reported is the increase in direct financial obligations due to the $75 million drawdown on the Credit Agreement dated March 14, 2012. This action was taken specifically to fund a portion of the $95 million purchase price for the DST Global Solutions Ltd. acquisition.
Outlook, Risks, and Management Commentary
The filing references the Credit Agreement and its terms, noting that the complete terms are incorporated by reference from previous filings (March 14, 2012; June 10, 2013; February 12, 2014). The document does not contain forward-looking guidance, specific risk factors beyond the standard credit agreement terms, or unusual items outside of the acquisition financing.
Investor Verification Checklist
- Verify the remaining availability under the $100 million Revolving Credit Facility after the $75 million drawdown.
- Review the full terms of the Credit Agreement (Exhibit 10.1 to the March 14, 2012 8-K) to understand covenants and interest rates applicable to the new debt.
- Confirm the source of the remaining $20 million required to fund the $95 million acquisition.
- Check subsequent filings for the integration status and financial impact of the DST Global Solutions Ltd. acquisition.