ssnc-8k_20200323.htm
false SS&C Technologies Holdings Inc 0001402436 0001402436 2020-03-23 2020-03-23

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2020

 

SS&C TECHNOLOGIES HOLDINGS INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-34675

71-0987913

(State or Other Jurisdiction

of Incorporation)

(Commission
File Number)

(IRS Employer
Identification No.)

 

80 Lamberton Road, Windsor, CT

06095

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (860) 298-4500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, par value $0.01 per share

SSNC

The Nasdaq Global Select Market

 

 

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

As previously disclosed, SS&C Technologies Holdings, Inc. (the “Company”), together with certain indirect wholly-owned subsidiaries of the Company, are party to a Credit Agreement, amended and restated as of April 16, 2018, which provides for, among other things, a $250.0 million senior secured revolving credit facility (the “Revolving Credit Facility”). A description of the material terms of the Revolving Credit Facility is set forth in Item 2.03 of the Company’s Current Report on Form 8-K, filed with the SEC on April 16, 2018, which is incorporated in this Item 2.03 by reference.

On March 23, 2020, the Company provided notice to draw down $211 million of its available capacity under the Revolving Credit Facility as a precautionary measure in order to increase liquidity and preserve financial flexibility in light of current uncertainty resulting from the COVID-19 pandemic.  The Company had drawn $35 million of its available capacity under the Revolving Credit Facility earlier in March for normal seasonal cash flow needs.  The interest rates for the $35 million draw and $211 million draw on the Revolving Credit Facility are approximately 2.92% and 2.96%, respectively, each of which is calculated as LIBOR plus 2.00%.  As a result of the draws on the Revolving Credit Facility and previously outstanding letters of credit, the Company does not currently have any further availability under the Revolving Credit Facility.

Item 9.01. Financial Statements and Exhibits

 

(d)

Exhibits

 

104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

 

 


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

SS&C TECHNOLOGIES HOLDINGS, INC.

 

 

 

 

Date: March 25, 2020

 

By:

/s/ Patrick J. Pedonti

 

 

 

Patrick J. Pedonti

 

 

 

Senior Vice President and Chief Financial Officer

 

 

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Document And Entity Information
Mar. 23, 2020
Document And Entity Information [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Mar. 23, 2020
Entity Registrant Name SS&C Technologies Holdings Inc
Entity Central Index Key 0001402436
Entity Emerging Growth Company false
Entity File Number 001-34675
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 71-0987913
Entity Address, Address Line One 80 Lamberton Road
Entity Address, City or Town Windsor
Entity Address, State or Province CT
Entity Address, Postal Zip Code 06095
City Area Code 860
Local Phone Number 298-4500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Security12b Title Common stock, par value $0.01 per share
Trading Symbol SSNC
Security Exchange Name NASDAQ