Monday, May 12, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

EVERTEC Closes on the Acquisition of Sinqia, a Leading Provider of Software Solutions for Financial Institutions in Brazil

Simon Osuji by Simon Osuji
November 2, 2023
in Politics
0
EVERTEC Closes on the Acquisition of Sinqia, a Leading Provider of Software Solutions for Financial Institutions in Brazil
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Amends existing credit agreement

SAN JUAN, Puerto Rico–(BUSINESS WIRE)–EVERTEC, Inc. (NYSE: EVTC) (“Evertec”, the “Company”, “we” or “our”) today announced that the Company has closed the previously announced transaction to acquire Sinqia, S.A. (“Sinqia”), a leading player in the market of software for financial services in Brazil.


Mac Schuessler, President and Chief Executive Officer stated, “We are excited about the future of Evertec and Sinqia. Together we will build a full-service technology company focused on providing the best products and services to our clients throughout the region. This transaction completes another important step in our strategic objective of becoming the Fintech for the LATAM region and will now focus on ensuring a successful integration.”

As previously disclosed, Evertec obtained debt financing commitments to acquire Sinqia, and pay related fees and expenses. In connection with the closing of this transaction, on October 30, 2023, the Company entered into a first amendment to the existing credit agreement dated as of December 1, 2022. Under this amendment, Banco Popular de Puerto Rico and FirstBank Puerto Rico provided additional term loan A commitments amounting to $60,000,000 and a syndicate of financial institutions and other lenders provided a new tranche of term loan B commitments in the amount of $600,000,000. The interest rate on the additional term loan A will be the same as set forth in the existing credit agreement, while the interest rate on the new term loan B will be based on SOFR plus 3.50% for SOFR loans and 2.50% for base rate loans.

Advisors

Evercore, Seneca Evercore and Goldman Sachs served as lead financial advisors to Evertec. Truist Securities also served as a financial advisor to Evertec. Latham & Watkins and Mattos Filho served as legal advisors to Evertec. The debt financing was arranged by Truist Securities, Inc., Citizens Bank, N.A. and Fifth Third Bank, N.A. as Joint Lead Arrangers.

About Evertec

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

Forward-Looking Statements

Certain statements in this earnings release constitute “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding expectations relating to services and products to be provided by Evertec following the acquisition of Sinqia, are forward looking statements. Words such as “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” and “plans” and similar expressions of future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to, our inability to integrate Sinqia successfully into the Company and the other factors set forth under “Part 1, Item 1A. Risk Factors,” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2023, as any such factors are updated from time to time in the Company’s subsequent filings with the SEC. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless it is required to do so by law.

Contacts

Investor Contact
Beatriz Brown-Sáenz

(787) 773-5442

IR@evertecinc.com

Source link

Related posts

GOP Medicaid Plans Would Slash Health Coverage for Millions, CBO Confirms

GOP Medicaid Plans Would Slash Health Coverage for Millions, CBO Confirms

May 12, 2025
Shamea Morton and Porsha William’s Bond has Changed

Shamea Morton and Porsha William’s Bond has Changed

May 12, 2025
Previous Post

Lake Kivu winners under fire, while Congo pushes back bid closing

Next Post

US Warns Sudan Unit Against ‘Imminent Large-Scale Attack’ in Darfur

Next Post
US Warns Sudan Unit Against ‘Imminent Large-Scale Attack’ in Darfur

US Warns Sudan Unit Against 'Imminent Large-Scale Attack' in Darfur

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

US Army’s Pacific corps will invite more allies to join groundbreaking comms platform

US Army’s Pacific corps will invite more allies to join groundbreaking comms platform

2 years ago
Kenyan legislative committee calls for Worldcoin shutdown in the country

Kenyan legislative committee calls for Worldcoin shutdown in the country

2 years ago
So What Next for SHIB?

So What Next for SHIB?

2 years ago
Should You Buy Now or Wait For Dips?

Should You Buy Now or Wait For Dips?

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.