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.
SOURCE Catalina Marketing Corporation
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Related links:
http://www.catalinamarketing.com
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
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