Company: ALIT
Filing Date: 2025-01-30
Form Type: 8-K
Source: 0001809104-25-000031
Chunk: 1

Company: Alight, Inc. / Delaware
Filing Date: 2025-01-30
Form: 8-K
Item: Item 2.03
Chunk 1
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On January 29, 2025, Tempo Acquisition, LLC (the “ Borrower”), an indirect, wholly-owned subsidiary of Alight, Inc. (the “ Company”) entered into Amendment No. 11 to Credit Agreement (the “ Amendment”) which amended its credit agreement with a syndicate of lenders (the “ Credit Agreement” and the Credit Agreement as amended by the Amendment, the “ Amended Credit Agreement”) to establish a new class of Seventh Incremental Term Loans with an aggregate principal amount of $2,029,917,465.32 to effect a repricing of the outstanding Sixth Incremental Term Loans due August 31, 2028, by reducing the Applicable Rate (as defined in the Amended Credit Agreement) from SOFR +2.25% to SOFR +1.75%. The net proceeds from the Seventh Incremental Term Loans will be used to prepay and refinance all outstanding Sixth Incremental Loans in full. The Seventh Incremental Term Loans shall be on substantially similar terms as the Sixth Incremental Term Loans (including as to SOFR rate, maturity and quarterly repayment equal to 0.25% of principal). The Amendment will also amend certain other provisions of the Credit Agreement including, among other things, refreshing a prepayment premium which will be equal to 1% of the aggregate principal amount of Seventh Incremental Term Loans if (x) prepaid, refinanced, substituted or replaced pursuant to a transaction resulting in a lower effective all-in yield or (y) any amendment, amendment and restatement or other modification of the Amended Credit Agreement resulting in a lower effective all-in yield, in each case, on or prior to the six-month anniversary of the Amendment No. 11 Effective Date. BofA Securities, Inc., Barclays Bank PLC, BMO Capital Markets Corp., Citibank, N. A., UBS Securities LLC, Goldman Sachs Bank USA, JPMorgan Chase Bank, N. A., Morgan Stanley Senior Funding, Inc. and RBC Capital Markets, LLC have agreed to act as joint lead arrangers and joint bookrunners for the Amendment.

The Borrower remains required to pay certain fees in connection with, and as amended by, the Amended Credit Agreement and the Amendment.

The Amended Credit Agreement (i) continues to contain customary representations and warranties, covenants, and events of default and (ii