Western Union Enters Material Agreement, Faces New Obligations
Ticker: WU · Form: 8-K · Filed: Dec 4, 2024 · CIK: 1365135
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: WU
TL;DR
WU signed a big deal, new financial obligations on the books.
AI Summary
On November 30, 2024, The Western Union Company entered into a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The report includes financial statements and exhibits related to these events.
Why It Matters
This filing signals a significant new financial commitment or arrangement for Western Union, which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and operational changes that require careful monitoring.
Key Players & Entities
- The Western Union Company (company) — Registrant
- November 30, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Western Union?
The filing states that Western Union entered into a material definitive agreement on November 30, 2024, but does not specify the details of the agreement itself within the provided text.
What type of financial obligation has Western Union created?
The filing indicates the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement' for the registrant, but the specific details are not provided in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on November 30, 2024.
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 Commission File Number for Western Union?
Western Union's Commission File Number is 001-32903.
Filing Stats: 731 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-12-04 16:05:23
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 Par Value WU The New York Stock Exc
- $1.25 billion — ng facilities in an aggregate amount of $1.25 billion with a syndicate of lenders including C
- $600,000,000 — Credit Agreement by an amount of up to $600,000,000. Pursuant to Section 2.20 of the Credit
- $310,000,000 — edit commitments have been increased by $310,000,000 to a total of $1.56 billion in revolvin
- $1.56 billion — increased by $310,000,000 to a total of $1.56 billion in revolving credit commitments. The in
Filing Documents
- wu-20241130.htm (8-K) — 61KB
- 0000950170-24-133238.txt ( ) — 173KB
- wu-20241130.xsd (EX-101.SCH) — 26KB
- wu-20241130_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. As previously reported, on November 30, 2023, The Western Union Company ("Western Union") entered into a second amended and restated credit agreement (the "Credit Agreement") providing for unsecured financing facilities in an aggregate amount of $1.25 billion with a syndicate of lenders including Citibank, N.A., Bank of America, N.A. and Wells Fargo Bank, National Association, in their respective capacities as Issuing Lenders and in their respective capacities as Swing Line Banks, Bank of America, N.A. and Wells Fargo Bank, National Association, as Syndication Agents, Barclays Bank PLC, JPMorgan Chase Bank, N.A. and U.S. Bank National Association, as Documentation Agents, and Citibank, N.A., as Administrative Agent for the lenders thereunder. The Credit Agreement had a termination date of November 30, 2028, subject to an ability of Western Union to request an extension of the termination date by one year, up to a maximum of two such requests. Pursuant to Section 2.25 of the Credit Agreement, the termination date of the Credit Agreement has been extended by one year to November 30, 2029. The extension of the termination date became effective as of November 30, 2024. Under the Credit Agreement, Western Union has the option, on one or more occasions, to request an increase in the commitments under the Credit Agreement by an amount of up to $600,000,000. Pursuant to Section 2.20 of the Credit Agreement, the aggregate revolving credit commitments have been increased by $310,000,000 to a total of $1.56 billion in revolving credit commitments. The increase in revolving credit commitments became effective as of November 30, 2024. A copy of the Credit Agreement is attached as Exhibit 10.1 to the Current Report on Form 8-K filed by Western Union on December 4, 2023.
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 extension of the Credit Agreement is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Number Description of Exhibit 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)
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: December 4, 2024 THE WESTERN UNION COMPANY By: /s/ Benjamin C. Adams Name: Benjamin C. Adams Title: Executive Vice President, Chief Legal Officer