EVERTEC Closes on the Acquisition of Sinqia, a Leading Provider of Software Solutions for Financial Institutions in Brazil
01 Novembre 2023 - 10:14PM
Business Wire
Amends existing credit agreement
EVERTEC, Inc. (NYSE: EVTC) (“Evertec”, the “Company”, “we” or
“our”) today announced that the Company has closed the previously
announced transaction to acquire Sinqia, S.A. (“Sinqia”), a leading
player in the market of software for financial services in
Brazil.
Mac Schuessler, President and Chief Executive Officer stated,
“We are excited about the future of Evertec and Sinqia. Together we
will build a full-service technology company focused on providing
the best products and services to our clients throughout the
region. This transaction completes another important step in our
strategic objective of becoming the Fintech for the LATAM region
and will now focus on ensuring a successful integration.”
As previously disclosed, Evertec obtained debt financing
commitments to acquire Sinqia, and pay related fees and expenses.
In connection with the closing of this transaction, on October 30,
2023, the Company entered into a first amendment to the existing
credit agreement dated as of December 1, 2022. Under this
amendment, Banco Popular de Puerto Rico and FirstBank Puerto Rico
provided additional term loan A commitments amounting to
$60,000,000 and a syndicate of financial institutions and other
lenders provided a new tranche of term loan B commitments in the
amount of $600,000,000. The interest rate on the additional term
loan A will be the same as set forth in the existing credit
agreement, while the interest rate on the new term loan B will be
based on SOFR plus 3.50% for SOFR loans and 2.50% for base rate
loans.
Advisors
Evercore, Seneca Evercore and Goldman Sachs served as lead
financial advisors to Evertec. Truist Securities also served as a
financial advisor to Evertec. Latham & Watkins and Mattos Filho
served as legal advisors to Evertec. The debt financing was
arranged by Truist Securities, Inc., Citizens Bank, N.A. and Fifth
Third Bank, N.A. as Joint Lead Arrangers.
About Evertec
EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction
processing business in Latin America, Puerto Rico and the
Caribbean, providing a broad range of merchant acquiring, payment
services and business process management services. Evertec owns and
operates the ATH® network, one of the leading personal
identification number (“PIN”) debit networks in Latin America. In
addition, the Company processes over six billion transactions
annually and manages a system of electronic payment networks in
Puerto Rico and Latin America and offers a comprehensive suite of
services for core banking, cash processing, and fulfillment in
Puerto Rico. Additionally, the Company offers technology
outsourcing and payment transactions fraud monitoring to all the
regions it serves. Based in Puerto Rico, the Company operates in 26
Latin American countries and serves a diversified customer base of
leading financial institutions, merchants, corporations and
government agencies with “mission-critical” technology solutions.
For more information, visit www.evertecinc.com.
Forward-Looking Statements
Certain statements in this earnings release constitute
“forward-looking statements” within the meaning of, and subject to
the protection of, the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements contained in this press release other than statements of
historical facts, including, without limitation, statements
regarding expectations relating to services and products to be
provided by Evertec following the acquisition of Sinqia, are
forward looking statements. Words such as “believes,” “expects,”
“anticipates,” “intends,” “projects,” “estimates,” and “plans” and
similar expressions of future or conditional verbs such as “will,”
“should,” “would,” “may,” and “could” are generally forward-looking
in nature and not historical facts. Such forward-looking statements
are subject to risks, uncertainties, and other important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Factors
that may impact such forward-looking statements include, but are
not limited to, our inability to integrate Sinqia successfully into
the Company and the other factors set forth under "Part 1, Item 1A.
Risk Factors," in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2022 filed with the Securities and
Exchange Commission (the "SEC") on February 24, 2023, as any such
factors are updated from time to time in the Company’s subsequent
filings with the SEC. The Company undertakes no obligation to
release publicly any revisions to any forward-looking statements,
to report events or to report the occurrence of unanticipated
events unless it is required to do so by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231101515668/en/
Investor Contact Beatriz Brown-Sáenz (787) 773-5442
IR@evertecinc.com
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