Company: ACIW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000935036-25-000006
Chunk: 29

Company: ACI WORLDWIDE, INC.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 15
Chunk 29
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 as follows (in thousands):Fiscal Year Ending December 31,2025$37,500 2026437,500 202737,500 202837,500 2029382,500 Thereafter— Total$932,500 The Revolving Credit Facility and 2026 Notes do not amortize. The Term Loans do amortize, with principal payable in consecutive quarterly installments.The Credit Agreement and 2026 Notes contain certain customary affirmative covenants and negative covenants that, among other things, limit or restrict, subject to certain exceptions, the incurrence of liens, indebtedness of subsidiaries, mergers, advances, investments, acquisitions, transactions with affiliates, change in nature of business, and the sale of the assets. In addition, the Credit Agreement and 2026 Notes contain certain customary mandatory prepayment provisions. As specified in the Credit Agreement and 2026 Notes agreement, if certain events occur and continue, the Company may be required to repay all amounts outstanding under the Credit Facility and 2026 Notes. As of December 31, 2024, and at all times during the period, the Company was in compliance with its financial debt covenants.Total debt is comprised of the following (in thousands):December 31,20242023Term loans$462,500 $519,698 Revolving credit facility70,000 124,000 5.750% Senior Notes, due August 2026400,000 400,000 Debt issuance costs(7,923)(5,694)Total debt924,577 1,038,004 Less: current portion of term loans37,500 77,900 Less: current portion of debt issuance costs(2,572)(3,495)Total long-term debt$889,649 $963,599 Overdraft FacilityIn 2019, the Company and ACI Payments, Inc. entered in to an uncommitted overdraft facility with Bank of America, N.A. The overdraft facility bears interest at the federal funds effective rate plus 2.25% based on the Company’s average outstanding balance and the frequency in which overdrafts occur. The overdraft facility acts as a secured loan under the terms of the Credit Agreement to provide an additional funding mechanism for timing differences that can occur in the bill payment settlement process. Amounts outstanding on the overdraft facility are included in other current liabilities in the consolidated balance sheet. As of December 31, 202