DEBT

FactSet’s debt obligations consisted of the following:

(in thousands)		February 28, 2019				August 31, 2018
2017 Revolving Credit Facility (maturity date of March 17, 2020)		$	575,000			$	575,000

March 17, 2017,

the Company entered into a credit agreement (the

“2017

Credit Agreement”) between FactSet, as the borrower, and PNC Bank, National Association (“PNC”), as the administrative agent and lender. As of

February 28, 2019,

the

2017

Credit Agreement provides for a

$575.0

million revolving credit facility (the

“2017

Revolving Credit Facility”). FactSet

may

request borrowings under the

2017

Revolving Credit Facility until its maturity date of

March 17, 2020.

The

2017

Credit Agreement also allows FactSet, subject to certain requirements, to arrange for additional borrowings with PNC for an aggregate amount of up to

$225.0

million, provided that any such request for additional borrowings must be in a minimum amount of

$25.0

million. Borrowings under the loan bear interest on the outstanding principal amount at a rate equal to the daily LIBOR rate plus a spread using a debt leverage pricing grid currently at

1.00%.

Interest on the loan outstanding is payable quarterly in arrears and on the maturity date. There are

prepayment penalties if the Company elects to prepay the outstanding loan amounts prior to the scheduled maturity date. The principal balance is payable in full on the maturity date.

March 29, 2019,

the Company entered into a credit agreement (the

“2019

Credit Agreement”) between FactSet, as the borrower, and PNC, as the administrative agent and lender. The

2019

Credit Agreement provides for a

$750.0

million revolving credit facility (the

“2019

Revolving Credit Facility”). In conjunction with FactSet’s entrance into the

2019

Credit Agreement, FactSet repaid its outstanding debt under the

2017

Credit Agreement on

March 29, 2019.

The total principal amount of the loan outstanding at the time of repayment was

$575.0

million. See Note

18,

Subsequent Events, for further discussion of the

2019

Credit Agreement.

All outstanding loan amounts are reported as Long-term debt within the consolidated balance sheet at

February 28, 2019.

For the

three

months ended

February 28, 2019

and

2018,

the Company recorded interest expense of

$5.1

million and

$3.6

million on its outstanding debt amounts, respectively. For the

six

months ended

February 28, 2019

and

2018,

the Company recorded interest expense of

$9.9

million and

$7.0

million on its outstanding debt amounts, respectively. The principal balance is payable in full on the maturity date. As of

February 28, 2019,

commitment fee was owed by FactSet since it borrowed the full amount under the

2017

Credit Agreement.

The

2017

Credit Agreement contained covenants restricting certain FactSet activities, which are usual and customary for this type of loan. In addition, the

2017

Credit Agreement required that FactSet maintain a consolidated leverage ratio, as measured by total funded debt/EBITDA below a specified level as of the end of each fiscal quarter. The Company was in compliance with all the covenants of the

2017

Credit Agreement as of

February 28, 2019.