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Acxiom Announces $600 Million Refinancing

Stocks in this article: ACXM

Acxiom® (Nasdaq: ACXM), an enterprise data, analytics and software-as-a-service company, today announced a $600 million refinancing.

The $600 million refinancing consists of a $300 million term loan and a $300 million undrawn revolving credit facility. In addition, the facility includes a $150 million uncommitted accordion feature allowing for additional revolving capacity.

This refinancing gives the company more liquidity, lower borrowing rates and lower fees. The facility matures in October 2018.

The proceeds of the term loan will be used to repay the company’s existing $215 million term loan and for other general corporate purposes.

“It’s a great time to be in the debt markets given historically low rates,” said Acxiom CFO Warren Jenson. “This debt facility gives us additional liquidity and financial flexibility. We are pleased to be in the position of having a strong balance sheet, excellent liquidity and acquisition capacity. At the same time, the company is investing in break-through technology and is committed to its ongoing $200 million share repurchase program.”

JPMorgan Chase Bank, N.A. served as Administrative Agent for the transaction, with J.P. Morgan Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith, Inc., the Bank of Tokyo-Mitsubishi UFJ, Ltd. and Wells Fargo Securities, LLC as Joint Bookrunners and Joint Lead Arrangers. SunTrust Bank, PNC Bank, N.A., Regions Bank and Compass Bank served as Co-Documentation Agents.

About Acxiom

Acxiom is an enterprise data, analytics and software-as-a-service company that uniquely fuses trust, experience and scale to fuel data-driven results. For over 40 years, Acxiom has been an innovator in harnessing the most important sources and uses of data to strengthen connections between people, businesses and their partners. Utilizing a channel and media neutral approach, we leverage cutting-edge, data-oriented products and services to maximize customer value. Every week, Acxiom powers more than a trillion transactions that enable better living for people and better results for our 7,000+ global clients. For more information about Acxiom, visit Acxiom.com.

Forward-Looking Statement

This release contains a forward-looking statement regarding the company’s commitment to an ongoing share repurchase program. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. The following are factors, among others, that could cause actual results to differ materially from this forward-looking statement: the possibility that certain contracts may not generate the anticipated revenue or profitability or may not be closed within the anticipated time frames; the possibility that significant customers may experience extreme, severe economic difficulty or otherwise reduce the amount of business they do with us; the possibility that we will not successfully complete customer contract requirements on time or meet the service levels specified in the contracts, which may result in contract penalties or lost revenue; the possibility that data suppliers might withdraw data from us, leading to our inability to provide certain products and services to our clients, which could lead to decreases in our operating results; the possibility that we may not be able to attract, retain or motivate qualified technical, sales and leadership associates, or that we may lose key associates; the possibility that we may not be able to adequately adapt to rapidly changing computing environments, technologies and marketing practices; the possibility that we will not be able to continue to receive credit upon satisfactory terms and conditions; the possibility that negative changes in economic conditions in general or other conditions might lead to a reduction in demand for our products and services; the possibility that there will be changes in consumer or business information industries and markets that negatively impact the company; the possibility that the historical seasonality of our business may change; the possibility that we will not be able to achieve cost reductions and avoid unanticipated costs; the possibility that the fair value of certain of our assets may not be equal to the carrying value of those assets now or in future time periods; the possibility that unusual charges may be incurred; the possibility that changes in accounting pronouncements may occur and may impact forward-looking statements; the possibility that we may encounter difficulties when entering new markets or industries; the possibility that we could experience loss of data center capacity or interruption of telecommunication links; the possibility that new laws may be enacted which limit our ability to provide services to our clients and/or which limit the use of data; and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including our current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, particularly the discussion under the caption “Item 1A, RISK FACTORS” in our Annual Report on Form 10-K for the year ended March 31, 2013, which was filed with the Securities and Exchange Commission on May 29, 2013.

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