UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
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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. ☐
| Item 1.01 | Entry into a Material Definitive Agreement |
On August 15, 2019, Verisk Analytics, Inc. (the “Company”) entered into the Fourth Amendment (the “Fourth Amendment”) to the Second Amended and Restated Credit Agreement dated April 22, 2015 among the Company and the lenders and agents party thereto. The Fourth Amendment provides for (i) a reduction in the principal amount of the commitments under the facility from $1.5 billion to $1.0 billion (while correspondingly increasing the unfunded/uncommitted accordion from $500 million to $1.0 billion), (ii) a five-year extension of the maturity date, (iii) the ability for loans to be funded in Euros and Sterling, (iv) certain modifications to the definition of “Applicable Rate”, among other things, to reflect reductions in pricing, and (v) changes to the financial covenant based on the consolidated funded debt leverage ratio to allow for one temporary step-up to 4.25:1.00 and one temporary step-up to 4.00:1.00. All borrowings under the credit facility shall continue to remain unsecured.
The foregoing description of the Fourth Amendment is qualified in its entirety by reference to the Fourth Amendment, which is annexed as Exhibit 10.1 and is incorporated by reference in its entirety.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit |
Description | |||
| 10.1 |
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| 104 |
Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). | |||
SIGNATURES
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.
| VERISK ANALYTICS, INC. | ||||||
| Date: August 16, 2019 |
By: |
/s/ Kenneth E. Thompson | ||||
| Name: |
Kenneth E. Thompson | |||||
| Title: |
Executive Vice President, | |||||