The Company is working diligently to file the Form 10-K and the Form 10-Qs as soon as reasonably practicable.About EVERTEC EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business solutions services. The Company manages a system of electronic payment networks that process more than two billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, EVERTEC owns and operates the ATH® network, one of the leading personal identification number ("PIN") debit networks in Latin America. Based in Puerto Rico, the Company operates in 19 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with "mission-critical" technology solutions. For more information, visit www.evertecinc.com. Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of EVERTEC to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by, or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," and "plans" and similar expressions of future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. Particular risks and uncertainties include, among others, the failure of the Company to file the financial statements described above in a timely manner and the potential resolution of previously disclosed tax and accounting matters relating to certain 2010 expenditures in a manner that adversely affects the Company's financial results. Consideration should also be given to the risks set forth under the headings "Forward-Looking Statements" and "Risk Factors" in the reports the Company files with the SEC from time to time, in connection with considering any forward-looking statements that may be made by the Company and its businesses generally. We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless we are required to do so by law.
EVERTEC, Inc. (NYSE: EVTC) ("EVERTEC" or the "Company") today announced that its main operating subsidiary, Evertec Group, LLC ("Evertec Group" or the "Borrower"), together with certain other subsidiaries of the Company, has entered into an amendment and waiver of its existing credit facility to extend certain financial reporting deadlines. Under the terms of the credit facility, the Company's timely filing of periodic reports on Forms 10-K and 10-Q satisfies the Borrower's financial reporting obligations. Pursuant to the amendment, the deadline for filing the Company's 2015 Annual Report on Form 10-K (the "Form 10-K") has been extended to September 15, 2016. In addition, subject to certain conditions, the deadline for filing the Company's Quarterly Reports on Form 10-Q for the quarters ending March 31, 2016 (the "First Quarter 10-Q") and June 30, 2016 (the "Second Quarter 10-Q" and, together with the First Quarter 10-Q, the "Form 10-Qs") has also been extended to September 15, 2016. If the Company files its Form 10-K prior to that date, the Form 10-Qs must be filed on the later of their regular due dates provided in the credit facility (May 15, 2016 and August 14, 2016, respectively) or the date that the Form 10-K is actually filed. The amendment correspondingly modified the date that various certificates relating to the financial statements must be provided to the lenders and the content of such certificates. The amendment also provides for an increase in the interest rate applicable to the loans under the credit facility by 50 basis points in the event that the Form 10-K and the First Quarter 10-Q are not filed by May 30, 2016. The applicable interest rates will increase by an additional 25 basis points if such reports are not filed by July 15, 2016. Furthermore, until such reports are delivered to the Agent, no payments can be made by the Borrower to the Company to fund any repurchases of the Company's common stock or to fund any payment of dividends by the Company, other than quarterly dividends on the outstanding common stock of the Company in an amount not to exceed $0.10 per share. The Borrower paid each lender that consented to the amendment a fee equal to 0.50% of the aggregate principal amount of outstanding term loans and revolving commitments held by such lender.