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SEC Filings

10-K
IHS MARKIT LTD. filed this Form 10-K on 01/18/2019
Entire Document
 

 
 
November 30, 2018
 
November 30, 2017
2016 revolving facility
 
$

 
$
886.0

2018 revolving facility
 
1,108.0

 

2016 term loan:
 
 
 
 
Tranche A-1
 

 
615.0

Tranche A-2
 

 
515.6

2018 term loan:
 
 
 
 
Tranche A-1
 
574.0

 

Tranche A-2
 
481.3

 

2017 term loan
 

 
500.0

364-day credit agreement
 
250.0

 

5% senior notes due 2022
 
750.0

 
750.0

4.125% senior notes due 2023
 
498.6

 

4.75% senior notes due 2025
 
813.8

 
815.8

4.00% senior notes due 2026
 
500.0

 

4.75% senior notes due 2028
 
747.3

 

Institutional senior notes:
 
 
 
 
Series A
 

 
95.8

Series B
 

 
53.7

Debt issuance costs
 
(51.2
)
 
(42.8
)
Capital leases
 
7.3

 
4.2

Total debt
 
$
5,679.1

 
$
4,193.3

Current portion
 
(789.9
)
 
(576.0
)
Total long-term debt
 
$
4,889.2

 
$
3,617.3


2016 revolving facility. In July 2016, we entered into a $1.85 billion senior unsecured revolving credit agreement (“2016 revolving facility”). Borrowings under the 2016 revolving facility were set to mature in July 2021. The interest rates for borrowings under the 2016 revolving facility were the applicable LIBOR plus a spread of 1.00 percent to 1.75 percent, depending upon our Leverage Ratio, which was defined as the ratio of Consolidated Funded Indebtedness to rolling four-quarter Consolidated Earnings Before Interest Expense, Taxes, Depreciation and Amortization (“EBITDA”), as such terms were defined in the revolving facility agreement. A commitment fee on any unused balance was payable periodically and ranged from 0.125 percent to 0.30 percent based upon our Leverage Ratio.

2018 revolving facility. On June 25, 2018, we terminated the 2016 revolving facility and entered into a new $2.0 billion senior unsecured revolving credit agreement (“2018 revolving facility”). Borrowings under the 2018 revolving facility mature in June 2023. The interest rates for borrowings under the 2018 revolving facility are the applicable LIBOR plus a spread of 1.00 percent to 1.75 percent, depending upon our corporate credit rating. A commitment fee on any unused balance is payable periodically and ranges from 0.125 percent to 0.30 percent based upon our corporate credit rating. The obligations under the 2018 revolving facility are not guaranteed by any of our subsidiaries. As a result of the termination of the 2016 revolving facility, the outstanding letters of credit under that facility were transferred to the 2018 revolving facility. We had approximately $1.5 million of outstanding letters of credit under the 2018 revolving facility as of November 30, 2018, which reduced the available borrowing under the facility by an equivalent amount.

2016 term loan. In July 2016, we entered into a $1.206 billion senior unsecured amortizing term loan agreement (“2016 term loan”). The 2016 term loan had a final maturity date of July 2021. The interest rates for borrowings under the 2016 term loan were the same as those under the 2016 revolving facility.

2018 term loan. Coincident with entering into the 2018 revolving facility and terminating the 2016 revolving facility, we terminated the 2016 term loan and entered into a new senior unsecured amortizing term loan agreement (“2018 term loan”). The 2018 term loan has a final maturity date of July 2021. The obligations under the 2018 term loan are not guaranteed by any of our subsidiaries. The interest rates for borrowings under the 2018 term loan are the same as those under the 2018 revolving facility.

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