Fidelity National Information Services Inc. said Friday that it expects to take a $27.3 million charge in the first quarter after refinancing $3 billion of unsecured credit arrangements.
Fidelity, a diversified vendor and processor serving financial companies, said its new credit facilities include $900 million of revolving credit and a $2.1 billion, five-year term loan. The initial borrowing rate is one percentage point above the London interbank offered rate. It did not identify the lenders.
The Jacksonville, Fla., company said the term loan was fully drawn and $557 million was borrowed under the revolving credit line at the time of closing to retire debt in a prior credit facility. Fidelity, which was spun off in November from its majority owner, Fidelity National Financial Inc., also of Jacksonville, said it plans to report fourth-quarter earnings on Feb. 6.
