Factset Investor Presentation Deck
FACTSET
Optimizing capital structure to ensure flexibility
Total Debt
($MM)
Gross Leverage (Debt / LTM EBITDA)
1.0x
$575
1
Feb 28, 2022
3.9x
$2,250
Debt
incurred
for CGS
March 1, 2022
3.5x
$2,125
Debt
incurred
for CGS;
net of
repayment
May 31, 2022
2
2.0x - 2.5x
3
Target
●
●
●
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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 - $875 million
outstanding as of May 31, 2022
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
Debt incurred for CGS on March 1, 2022 included $1.0B of new senior notes, $1.0B of new term loan, $250M drawn new revolver, net of repayment of $575M previous revolver
1 Based on $575M of drawn revolver as of February 28, 2022, and $561M of FY22 Q2 LTM Adjusted EBITDA (excludes CGS); see appendix for Adjusted EBITDA reconciliation
2 Based on May 31, 2022, net of repayment of $125m of the term facility includes unamortized discounts and debt issuance fees. Gross Debt of $2,125m /$601m LTM Q3 Adj. EBITDA = 3.5x
3 FactSet's expectations as of April 5, 2022. Actual results may differ materially from expectations above
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