Simpson Thacher represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with the refinancing of Cognizant’s credit agreement. The credit agreement provides for a $1.85 billion revolving credit facility and a $550 million term loan facility. The proceeds from the term loan facility were used primarily to repay the term loan facility that was part of Cognizant’s existing credit facilities, which were terminated on the closing date, and the revolving credit facility will be used for general corporate purposes.
Cognizant is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for its clients.
The Simpson Thacher team included Bill Sheehan, Christine Marshall and John Cary (Credit); Lauren Bugler and Jacques Stivala (Finance and Capital Markets); Caleb McConnell, Michael E. Mann and Daniel Griffiths (Tax);