Cardtronics gets amended, restated $375 million five-year revolver

By Angela McDaniels

Tacoma, Wash., April 25 - Cardtronics, Inc. entered into an amended and restated credit agreement on Thursday that provides for a $375 million five-year revolving loan credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The revolver has a $125 million accordion feature, a $30 million sublimit for letters of credit, a $25 million sublimit for swingline loans and a sublimit of up to the equivalent amount of $125 million for loans in currencies other than dollars.

The interest rate is Libor plus a margin based on the company's most recent total net leverage ratio.

JPMorgan Chase Bank, NA is the administrative agent. J.P. Morgan Europe Ltd. is alternative currency agent. Bank of America, NA is the syndication agent. Wells Fargo Bank, NA is the documentation agent.

Borrowings will be used for general corporate purposes.

The credit agreement requires the maintenance of a senior secured net leverage ratio of not more than 2.25 to 1.00, a total net leverage ratio of not more than 4.0 to 1.0 and a fixed-charge coverage ratio of not more than 1.5 to 1.0.

The revolver is jointly and severally guaranteed by the company's domestic subsidiaries.

Cardtronics is a Houston-based ATM services provider.

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