Amdocs enters into $500 million revolving credit facility due 2016

By Marisa Wong

Madison, Wis., Dec. 22 - Amdocs Ltd. entered into a credit agreement for a $500 million five-year revolving credit facility on Dec. 20, according to an 8-K filing with the Securities and Exchange Commission.

The facility matures on Dec. 20, 2016.

Interest will be Libor plus 90 basis points to Libor plus 145 bps, based on the company's ratings.

Borrowings can be made in U.S. dollars, Canadian dollars, British pounds sterling and euros.

The facility will be used for general corporate purposes, including acquisitions and repurchases of the company's stock.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch and HSBC Bank plc are the joint lead arrangers and joint bookrunners. JPMorgan Chase Bank, NA is the administrative agent, with J.P. Morgan Europe Ltd. as the London agent and JPMorgan Chase Bank, NA, Toronto branch, as the Canadian agent. Bank of America, NA is the syndication agent, and HSBC Bank is the documentation agent.

In connection with the closing of the new credit agreement, the company's credit agreement dated Nov. 27, 2007 was terminated.

Amdocs is a Chesterfield, Mo.-based customer relationship management software company.

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