Perspecta Closes Loan Repricing at Reduced Interest Rate with No Increase in Borrowing
Chantilly, Va.— Dec. 18, 2018— Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, today announced that on Dec. 12, 2018, that it successfully closed the first amendment to its credit agreement dated as of May 31, 2018.
The amendment includes a 25 basis point reduction in the interest rate applicable to the company's drawn $2.530 billion Pro Rata Facilities ($600 million Revolving Facility and $1.930 billion Term Loan A Facilities), and a 5 basis point reduction in the interest rate applicable to the company’s unused commitment fee with respect to the Revolving Credit Facility, with no increase in any borrowing. The interest rate applicable for the company’s Term Loan B Facility remains unchanged. Further information can be found in the company's current report on Form 8-K and the exhibits thereto filed with the Securities Exchange Commission on Dec. 18, 2018.
About Perspecta Inc.
At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 260+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation. For more information about Perspecta, visit perspecta.com.
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This press release may contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.