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Debt
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Debt
Debt
On September 14, 2014, we obtained committed bridge financing from Credit Suisse AG, Cayman Islands Branch, Credit Suisse Securities (USA) LLC, JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and Barclays Bank PLC. The commitments in respect of the unsecured bridge facility (the “Bridge Facility”) allow us to borrow up to $1,000,000 to finance our acquisition of TriZetto (see Note 7 - Commitments and Contingencies) and to pay fees and expenses in connection therewith. We paid an initial commitment fee of $1,500, which was capitalized as deferred financing fees and recorded in other current assets on our condensed consolidated statement of financial position. The Bridge Facility requires us to pay a ticking fee of 0.075% per annum of the daily undrawn balance of the facility beginning on October 29, 2014. The commitments in respect of the Bridge Facility will expire upon the earliest to occur of (1) December 31, 2014, (2) the closing of the TriZetto acquisition without the use of the Bridge Facility, and (3) the termination of the purchase agreement governing the TriZetto acquisition in accordance with its terms. If we elect to fund the Bridge Facility we will enter into a bridge facility credit agreement (the “Bridge Facility Credit Agreement”) concurrent with the closing of the TriZetto acquisition. The Bridge Facility Credit Agreement will provide that (i) the Bridge Facility matures 364 days after the closing of the TriZetto acquisition and (ii) interest will be payable at the three-month LIBOR rate, plus a base margin. We expect the base margin will initially be 0.875% and will increase by 0.25% at the end of each 90 day period thereafter. The Bridge Facility Credit Agreement will provide for certain affirmative and negative covenants that are usual and customary for facilities and transactions of this type and will include a minimum consolidated interest coverage ratio covenant of at least 3.50:1.