Company: DLX
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000027996-25-000142
Chunk: 63

Company: DELUXE CORP
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 63
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 475,000 Senior secured notes450,000 450,000 Securitization obligations70,686 78,917 Amounts drawn on senior secured revolving credit facility24,000 18,000 Total principal amount1,510,311 1,521,917 Less: unamortized discount and debt issuance costs(17,766)(18,766)Total debt, net of discount and debt issuance costs1,492,545 1,503,151 Less: current portion of long-term debt, net of debt issuance costs(37,163)(37,130)Long-term debt$1,455,382 $1,466,021 Maturities of long-term debt were as follows as of March 31, 2025:(in thousands)Debt obligationsRemainder of 2025$28,125 202637,500 2027108,186 202850,000 20291,286,500 Total principal amount$1,510,311 Credit facility – In December 2024, we executed a $900,000 senior secured credit facility, which includes commitments of $400,000 under a revolving credit facility and $500,000 under a term loan facility. The revolving credit facility includes a $40,000 swingline sub-facility and a $25,000 letter of credit sub-facility. Loans under the revolving credit facility can be borrowed, repaid, and re-borrowed until February 1, 2029, at which point all outstanding amounts must be repaid. The term loan facility is structured to be repaid in equal quarterly installments of $9,375 through December 2027 and $12,500 from March 2028 to December 2028, with the remaining balance due on February 1, 2029. The term loan facility includes mandatory prepayment requirements related to asset sales, certain casualty or other insured damage to assets, and new debt (excluding permitted debt), subject to certain limitations. No premium or penalty is incurred for any mandatory or voluntary prepayment of the term loan facility.

16

DELUXE CORPORATIONCONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS(dollars in thousands, except per share amounts)

Interest on the credit facility is payable at a fluctuating rate, as outlined in the credit agreement. A commitment fee is also payable on the unused portion of the revolving credit facility. Amounts outstanding under the credit