TNS » Topics » Dividends and Recapitalization

This excerpt taken from the TNS 10-Q filed Nov 10, 2008.

Dividends and Recapitalization

 

On March 28, 2007, the Company’s board of directors declared a special dividend of $4.00 per common share, which was paid on April 12, 2007. Also, on March 28, 2007, the Company entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the Term Facility) and a senior secured revolving credit facility in an aggregate principal amount of $15 million (the Revolving Facility). The Company used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend, and for general corporate purposes.

 

This excerpt taken from the TNS 10-Q filed Aug 11, 2008.

Dividends and Recapitalization

 

On March 28, 2007, the Company’s board of directors declared a special dividend of $4.00 per common share, which was paid on April 12, 2007. Also, on March 28, 2007, the Company entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the Term Facility) and a senior secured revolving credit facility in an aggregate principal amount of $15 million (the Revolving Facility). The Company used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend, and for general corporate purposes.

 

This excerpt taken from the TNS 10-Q filed May 12, 2008.

Dividends and Recapitalization

 

On March 28, 2007, our board of directors declared a special dividend of $4.00 per common share which was paid on April 12, 2007. Also, on March 28, 2007, we entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the “Term Facility”) and a senior secured revolving credit facility in an aggregate principal amount of $15 million (the “Revolving Facility”). We used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend and for general corporate purposes. No amount was drawn on the Revolving Facility at closing and the full principal amount of the Revolving Facility remained available to us as of March 31, 2008.

 

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These excerpts taken from the TNS 10-K filed Mar 17, 2008.

Dividends and Recapitalization

        On March 28, 2007, the Company's board of directors declared a special dividend of $4.00 per common share, which was paid on April 12, 2007. Also, on March 28, 2007, the Company entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the Term Facility) and a senior secured revolving credit

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TNS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

December 31, 2007

1. The Company: (Continued)


facility in an aggregate principal amount of $15 million (the Revolving Facility). The Company used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend and for general corporate purposes.

Dividends and Recapitalization



        On March 28, 2007, the Company's board of directors declared a special dividend of $4.00 per common share, which was paid on April 12, 2007. Also,
on March 28, 2007, the Company entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of
$225 million (the Term Facility) and a senior secured revolving credit



53








TNS, INC.



NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)



December 31, 2007



1. The Company: (Continued)






facility
in an aggregate principal amount of $15 million (the Revolving Facility). The Company used approximately $98.3 million of the proceeds from the Term Facility to pay the special
dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend and for general
corporate purposes.



This excerpt taken from the TNS 10-Q filed Nov 9, 2007.

Dividends and Recapitalization

        On March 28, 2007, our board of directors declared a special dividend of $4.00 per common share which was paid on April 12, 2007. Also, on March 28, 2007, we entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the "Term Facility") and a senior secured revolving credit facility in an aggregate principal amount of $15 million (the "Revolving Facility"). We used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend and for general corporate purposes. No amount was drawn on the Revolving Facility at closing and the full principal amount of the Revolving Facility remained available to us as of September 30, 2007. The payment of the special dividend and the closing on the secured credit facility reflect the completion of our recapitalization plan.

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This excerpt taken from the TNS 10-Q filed Aug 9, 2007.

Dividends and Recapitalization

On March 28, 2007, our board of directors declared a special dividend of $4.00 per common share which was paid on April 12, 2007. Also, on March 28, 2007, we entered into a secured credit facility, which consists of two facilities: a senior secured term loan facility in an aggregate principal amount of $225 million (the “Term Facility”) and a senior secured revolving credit facility in an aggregate principal amount of $15 million (the “Revolving Facility”). We used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend. The remainder of the proceeds from the Term Facility was used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend and for general corporate purposes. No amount was drawn on the Revolving Facility at closing and the full principal amount of the Revolving Facility remained available to us as of June 30, 2007. The payment of the special dividend and the closing on the secured credit facility reflect the completion of our recapitalization plan. We believe these actions were in the best interest of our shareholders and established a more appropriate capital structure.

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This excerpt taken from the TNS 10-Q filed May 10, 2007.

Dividends and Recapitalization

On March 28, 2007, the Company's board of directors declared a special dividend of $4.00 per common share which was paid on April 12, 2007. Also, on March 28, 2007, the Company entered into a secured credit facility, which consists of two facilities:  a senior secured term loan facility in an aggregate principal amount of $225,000,000 (the “Term Facility”) and a senior secured revolving credit facility in an aggregate principal amount of $15,000,000 (the “Revolving Facility”). The Company used approximately $98.3 million of the proceeds from the Term Facility to pay the special dividend.  The remainder of the proceeds from the Term Facility were used to refinance existing debt, to pay fees related to the senior secured credit facility and the special dividend  and for general corporate purposes.  No amount was drawn on the Revolving Facility at closing, and the full principal amount of the Revolving Facility remained available to the Company as of March 31, 2007.  The payment of the special dividend and the closing on the secured credit facility reflect the completion of the Company's recapitalization plan. The Company believes these actions were in the best interest of our shareholders and established a more appropriate capital structure for the Company.

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