Euronet Worldwide (NASDAQ: EEFT) Amends Credit Agreement and Extends Facility

On December 17, 2024, Euronet Worldwide Inc. announced a significant development concerning its financial obligations. The global electronic payments provider disclosed an amendment to its existing unsecured revolving Credit Agreement, enlarging the facility from $1.25 billion to $1.9 billion. Additionally, the maturity date was extended by five years, moving from December 17, 2024, to December 17, 2029.

The revised credit arrangement comprises a multi-currency borrowing tranche amounting to $1.685 billion and a USD borrowing tranche totalling $215 million. Notable adjustments include the removal of the credit spread adjustment on SOFR and SONIA borrowings, with the majority of the terms remaining consistent with the Company’s prior agreement.

Contained within the amended Credit Agreement are standard affirmative and negative covenants, events of default, and financial requirements, encompassing criteria such as a Consolidated Total Leverage Ratio and a Consolidated Interest Coverage Ratio. The specifics of these metrics are outlined in the Agreement document attached as Exhibit 10.1 to the filing.

Further detail on this noteworthy development is included in a press release issued by Euronet Worldwide Inc. on December 17, 2024, signifying the Company’s achievement in expanding and enhancing its financial flexibility. While the information contained in Exhibit 99.1 is not considered a formal filing under the Securities Exchange Act of 1934, it is made accessible for public disclosure purposes.

Euronet Worldwide Inc., renowned for its global real-time digital and cash payments network, has positioned itself as a leading player in facilitating various financial services on a global scale. This amendment to its credit facility marks a strategic move intended to bolster the Company’s position and support its growth ambitions in the coming years.

The increase in the credit facility capacity underscores Euronet’s commitment to further enhancing its operational capabilities and financial standing. By fortifying its capital structure and aligning it with strategic objectives, the Company aims to sustain its growth trajectory and deliver sustainable value to its stakeholders.

For more information on this development and Euronet Worldwide Inc.’s financial standing, interested parties may refer to the Company’s official communication and subsequent SEC filings for comprehensive details.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Euronet Worldwide’s 8K filing here.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.