Acxiom® (Nasdaq: ACXM), the enterprise data, analytics and software-as-a-service company, announced a $600 million refinancing.
The $600 million refinancing consists of a $300 million term loan and a $300 million undrawn revolving credit facility. In addition, the facility includes a $150 million uncommitted accordion feature allowing for additional revolving capacity. This refinancing provides the company more liquidity, lower borrowing rates and lower fees. The facility matures in October 2018. The proceeds of the term loan will be used to repay the company’s existing $215 million term loan and for other general corporate purposes.