Catalina (NYSE:POS)
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From Jul 2019 to Jul 2024
Catalina Marketing Enters New Credit Agreement; Acquires
Corporate Headquarters Facility
ST. PETERSBURG, Fla., Aug. 30 /PRNewswire/ -- Catalina Marketing Corporation
(NYSE:POS) today announced that it has entered into a five-year $125 million
multicurrency revolving credit facility. This facility has a feature that
allows the company, subject to certain conditions, to increase the revolving
credit line up to $175 million. The facility is unsecured and may be used for
general corporate purposes, which include, but are not limited to, refinancing
existing debt, share repurchases and capital expenditures. The lead arranger
for the facility is J.P. Morgan Securities Inc., with Bank One, NA as
administrative agent and Bank of America N.A. as syndication agent.
This refinancing replaces the company's $30 million U.S. revolving credit
facility that was due to expire August 31, 2004. The new facility will also
replace Catalina Marketing Japan K.K.'s 3.5 billion yen Japanese credit
facility. The Japanese facility consisted of a 1.5 billion yen revolver that
was due to expire August 31, 2004 and a 2 billion yen term loan with a maturity
of March 31, 2005. The company repaid the $32.0 million outstanding under the
Japanese facility with the proceeds from the new credit facility.
In addition, on August 25, 2004, the company purchased its corporate
headquarters facility located in St. Petersburg, Florida and terminated the
related lease financing agreement that it had entered into in 1999. The
purchase price of the building was $30.5 million and was paid in cash. The
company has notified the bank of its intent to borrow $30.0 million on
September 1, 2004, and will use these proceeds to replenish the cash used to
purchase the building.
Christopher W. Wolf, executive vice president and chief financial officer,
stated, "The revolving credit facility provides Catalina with the ability to
borrow in multiple currencies and gives us the necessary flexibility to grow
and manage our world-wide business. We are pleased that we have been able to
enter into a five-year facility with an excellent group of financial
institutions."
Based in St. Petersburg, FL, Catalina Marketing Corporation
(http://www.catalinamarketing.com/) was founded 20 years ago based on the
premise that targeting communications based on actual purchase behavior would
generate more effective consumer response. Today, Catalina Marketing combines
unparalleled insight into consumer behavior with dynamic consumer access. This
combination of insight and access provides marketers with the ability to
execute behavior-based marketing programs, ensuring that the right consumer
receives the right message at exactly the right time. Catalina Marketing offers
an array of behavior-based promotional messaging, loyalty programs and
direct-to-patient information. Personally identifiable data that may be
collected from the company's targeted marketing programs, as well as its
research programs, are never sold or given to any outside party without the
express permission of the consumer.
Certain statements in the preceding paragraphs are forward looking, and actual
results may differ materially. Statements not based on historic facts involve
risks and uncertainties, including, but not limited to, the changing market for
promotional activities, especially as it relates to policies and programs of
packaged goods and pharmaceutical manufacturers and retailers, government and
regulatory statutes, rules, regulations and policies, the effect of economic
and competitive conditions and seasonal variations, actual promotional
activities and programs with the company's customers, the pace of installation
of the company's store network, the success of new services and businesses and
the pace of their implementation, the company's ability to maintain favorable
client relationships, the timing of the completion of the company's future SEC
filings, the outcome and impact of an ongoing SEC investigation into certain of
the company's prior fiscal years, and the outcome and impact of the pending
shareholder class action and derivative lawsuits.
DATASOURCE: Catalina Marketing Corporation
CONTACT: Investors, Christopher W. Wolf, Chief Financial Officer,
+1-727-579-5218, or Joanne Freiberger, Vice President, Finance,
+1-727-579-5116, or Media, Susan Gear, Executive Director, Marketing,
+1-727-579-5452, all of Catalina Marketing Corporation
Web site: http://www.catalinamarketing.com/