EVERTEC Announces Refinancing of Credit Facilities

EVERTEC, Inc. (NYSE: EVTC) (“EVERTEC” or the “Company”) today announced that the Company successfully refinanced its existing credit facilities on December 1, 2022. The new credit facilities consist of an expanded $200 million revolving credit facility and a $415 million term loan A, both of which are due on December 1, 2027. Proceeds from the new term loan and a $50 million draw on the revolving credit facility were used to repay in full the Company’s existing term loan A and term loan B.

The interest rate on the term loan and the revolving credit facility will be based on adjusted SOFR (SOFR plus 0.10%) plus an applicable spread which will vary based on Evertec’s leverage ratio. At Evertec’s current leverage ratio the current spread over adjusted SOFR will be 1.50%.

Joaquin Castrillo, Chief Financial Officer stated, “We are very pleased to have completed our debt refinancing with an expanded revolving facility that we expect will allow us greater flexibility to execute on our strategic imperatives with a continued focus on M&A.”

Truist Securities, Inc. acted as left lead arranger, administrative agent and collateral agent for the transaction, with Banco Popular de Puerto Rico and Citizens Bank, N.A. as joint lead arrangers and co-syndication agents, and FirstBank Puerto Rico and Fifth Third Bank, National Association as joint lead arrangers and co-documentation agents.

About Evertec

EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, 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 manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process over three billion transactions annually. The Company also offers technology outsourcing in 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.