CoreLogic amendment adds $225 million under term A1 loan, revolver

By Wendy Van Sickle

Columbus, Ohio, May 31 – CoreLogic, Inc. entered into a first amendment to its second amended and restated credit agreement on Friday with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increased the term A1 loan facility by $175 million to $1,575,000,000 and increased the revolver by $50 million to $750 million.

The revolver includes a $100 million multicurrency revolving sub-facility and a $50 million letter of credit sub-facility.

The outstanding principal amount of the $175 million term A2 loan facility was unchanged.

The credit agreement also provides for the ability to increase the term facility and/or revolving facility by up to $300 million.

Initial interest is equal to Libor plus 175 basis points. The spread over Libor ranges from 125 bps to 200 bps, depending on CoreLogic’s leverage ratio.

The commitment fee for the unused portion of the revolver ranges from 20 bps to 35 bps, also based on leverage.

BofA Securities, Inc., JPMorgan Chase Bank, NA, Wells Fargo Securities, LLC, SunTrust Robinson Humphrey, Inc., U.S. Bank NA, MUFG Union Bank, NA and Bank of the West acted as joint lead arrangers and bookrunners on the deal. SunTrust Bank, U.S. Bank, MUFG and Bank of the West acted as co-documentation agents with JPMorgan and Wells Fargo Bank, NA as co-syndication agents.

Based in Irvine, Calif., CoreLogic provides financial, property and consumer information and analytics.

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