Western Union Enters Material Definitive Agreement
Ticker: WU · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1365135
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: WU
TL;DR
WU signed a big deal, new financial obligation incoming.
AI Summary
On June 25, 2024, The Western Union Company entered into a Material Definitive Agreement. This agreement constitutes a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the registrant. The filing includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Western Union, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial risks or obligations that may not be immediately apparent.
Key Players & Entities
- The Western Union Company (company) — Registrant
- June 25, 2024 (date) — Date of earliest event reported
FAQ
What type of Material Definitive Agreement did Western Union enter into?
The filing states that the agreement constitutes a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the registrant, but does not specify the exact nature of the agreement.
What is the effective date of this agreement?
The earliest event reported is dated June 25, 2024.
Are the specific terms of the financial obligation detailed in this filing?
This filing indicates the creation of a financial obligation but does not provide specific details on the terms within the provided text.
What is Western Union's principal executive office address?
Western Union's principal executive offices are located at 7001 East Belleview Avenue, Denver, Colorado, 80237.
What is the SEC file number for The Western Union Company?
The SEC file number for The Western Union Company is 001-32903.
Filing Stats: 1,071 words · 4 min read · ~4 pages · Grade level 11.1 · Accepted 2024-06-28 08:30:20
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 Par Value WU The New York Stock Exc
- $800,000,000 — loan facility in an aggregate amount of $800,000,000 with a syndicate of lenders, U.S. Bank
- $1,000,000,000 — such that the commitments do not exceed $1,000,000,000 in the aggregate (after giving effect t
Filing Documents
- wu-20240625.htm (8-K) — 61KB
- wu-ex10_1.htm (EX-10.1) — 1385KB
- 0000950170-24-078791.txt ( ) — 1708KB
- wu-20240625.xsd (EX-101.SCH) — 26KB
- wu-20240625_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On June 25, 2024 (the "Closing Date"), The Western Union Company ("Western Union") entered into a delayed draw term loan credit agreement (the "Term Loan Agreement") providing for an unsecured term loan facility in an aggregate amount of $800,000,000 with a syndicate of lenders, U.S. Bank National Association and Bank of China, Chicago Branch, as Syndication Agents, Industrial and Commercial Bank of China Limited, New York Branch and State Bank of India, New York Branch, as Documentation Agents, and Bank of America, N.A., as Administrative Agent for the banks thereunder. The Term Loan Agreement provides for an $800,000,000 unsecured delayed draw term loan facility, which permits Western Union to draw term loans from and including the Closing Date to and including December 15, 2024. In addition, at any time after the Closing Date, Western Union has the option to increase the commitments under the Term Loan Agreement by an amount such that the commitments do not exceed $1,000,000,000 in the aggregate (after giving effect to any such increases). Any such increases would be subject to obtaining additional commitments from existing or new banks under the Term Loan Agreement. To the extent any such increased commitments are obtained after the Closing Date, they must be funded in full at the time of the new commitment. The proceeds of the term loans may be used by Western Union to provide for general corporate requirements of Western Union and its subsidiaries, including refinancing of debt and to pay any fees and expenses in connection with the Term Loan Agreement and other related loan documents. The Term Loan Agreement contains customary representations, covenants and events of default, including certain covenants that limit or restrict Western Union's ability to sell or transfer assets or enter into a merger or consolidate with another company, grant certain types of security interests, incur certain types of
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in Item 1.01 of this Current Report on Form 8-K regarding the entry into the Term Loan Agreement is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Number Description of Exhibit 10.1 Delayed Draw Term Loan Credit Agreement, dated as of June 25, 2024, among The Western Union Company, the banks named therein, as lenders, U.S. Bank National Association and Bank of China, Chicago Branch, as Syndication Agents, Industrial and Commercial Bank of China Limited, New York Branch and State Bank of India, New York Branch, as Documentation Agents, and Bank of America, N.A., as Administrative Agent for the banks thereunder*. 101 Inline XBRL Document Set for the Cover Page from this Current Report on Form 8-K, formatted as Inline XBRL 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Portions of this exhibit have been omitted.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 28, 2024 THE WESTERN UNION COMPANY By: /s/ DARREN A. DRAGOVICH Name: Darren A. Dragovich Title: Vice President and Secretary