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BRIEF-CDK Global entered into a credit agreement on Dec. 9 - SEC Filing
December 12, 2016 / 12:50 PM / 8 months ago

BRIEF-CDK Global entered into a credit agreement on Dec. 9 - SEC Filing

Dec 12 (Reuters) - CDK Global Inc:

* CDK Global Inc - on December 9, 2016, CDK Global Inc Entered into a credit agreement, providing for a senior unsecured term loan facility - SEC Filing

* CDK Global Inc - credit agreement provides company with a term loan facility in an aggregate principal amount of $400 million

* CDK Global Inc - final settlement of transaction under ASR agreement is expected to occur during company s fiscal quarter ending June 30, 2017

* CDK Global Inc - term loan facility will mature on fifth anniversary of closing date

* CDK Global Inc - entered into an accelerated share repurchase agreement with Morgan Stanley & Co LLC to purchase $330 million of Co's common stock

* CDK Global Inc - ASR agreement, company will make a $330 million payment to Morgan Stanley on December 12, 2016

* CDK Global Inc - under terms of ASR agreement co will receive on same day an initial delivery of about 4.5 million shares of company s common stock Source text for Eikon: (bit.ly/2hvaJ6G) Further company coverage:

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