Factset Investor Day Presentation Deck
FACTSET
Optimizing capital structure to ensure flexibility
Total Debt
($MM)
Gross Leverage (Debt / LTM EBITDA)
1.0x
$575
Feb 28, 2022¹
3.9x
$2,250
Debt
incurred for
CGS, closed
March 1,
2022
Mar 1, 2022 2
2.0x - 2.5x
Target
3
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Capital Structure Optimization
Investment grade ratings from Moody's (Baa3) and Fitch (BBB)
New credit agreement with $500 million revolver ($250 million
drawn) and additional $750 million accordion feature
$1 billion unsecured senior notes issued (5 year $500 million
2.9% coupon; 10 year $500 million 3.45% coupon)
$1 billion pre-payable three-year term loan
Annual interest expense ~$50 million, ramping down to
~$40 million as term loan is repaid
Floating rate exposure hedged with 24-month fixed rate swap
¹ Based on $575M of drawn revolver as of Feb. 28, 2022 and $561M of FY22 Q2 LTM Adjusted EBITDA (excludes CGS); see appendix for Adjusted EBITDA reconciliation
2 Based on additional debt incurred on Mar. 1, 2022, including $1.0B of new senior notes, $1.0B of new term loan, $250M drawn new revolver, net of repayment of $575M previous revolver
2 FactSet's expectations as of April 5, 2022. Actual results may differ materially from expectations above
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