Business Context and Reporting Period
Company: SS&C Technologies Holdings, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 12, 2014
Event: Entry into a Sixth Amendment to the Credit Agreement dated March 14, 2012.
Key Financial Metrics
This filing reports on a specific debt restructuring event rather than periodic financial performance. Consequently, revenue, profit, cash flow, and margin data are not provided in this document.
- Debt Instrument Affected: Term A-2 Loans
- Principal Amount Affected: Approximately $213.2 million
- New Interest Rate: LIBOR plus 2.0% or Base Rate plus 1.0%
- Maturity Date: December 8, 2017 (unchanged)
- Lender: Deutsche Bank AG New York Branch (Designated 2014 February Replacement Term A-2 Lender)
Material Changes Versus Prior Period
The primary material change is the reduction in the interest rate on the specified $213.2 million of Term A-2 loans. The filing explicitly states that no changes were made to the financial covenants or the scheduled amortization of the debt.
Guidance, Outlook, and Risks
Management Commentary: The company issued a press release (Exhibit 99.1) regarding the amendment, which is furnished but not deemed filed for liability purposes under Section 18 of the Exchange Act.
Risks and Contingencies: The filing does not disclose new risks or contingencies beyond the standard terms of the amended credit agreement. The amendment was executed to secure a replacement lender and reduce borrowing costs.
Investor Verification Checklist
- Verify the exact interest rate spread reduction compared to the previous credit agreement terms.
- Confirm the total outstanding debt balance of SS&C Technologies to assess the proportion of the $213.2 million affected.
- Review the full text of the press release (Exhibit 99.1) for any additional qualitative commentary on liquidity or capital strategy.
- Check subsequent filings for any impact on interest expense in the next quarterly report.