LONG-TERM DEBT

FactSet’s debt obligations consisted of the following:

(in thousands)	February 28, 2018		August 31, 2017
2017 Revolving Credit Facility	$	574,702	$	575,000
Total Outstanding Debt	$	574,702	$	575,000

March 17, 2017,

the Company entered into a Credit Agreement (the

“2017

Credit Agreement”) between FactSet, as the borrower, and PNC Bank, National Association (“PNC”), as the administrative agent and lender. The

2017

Credit Agreement provides for a

$575.0

million revolving credit facility (the

“2017

Revolving Credit Facility”). FactSet

may

request borrowings under the

2017

Revolving Credit Facility until its maturity date of

March 17, 2020.

The

2017

Credit Agreement also allows FactSet, subject to certain requirements, to arrange for additional borrowings with PNC for an aggregate amount of up to

$225.0

million, provided that any such request for additional borrowings must be in a minimum amount of

$25.0

million. Borrowings under the loan bear interest on the outstanding principal amount at a rate equal to the daily LIBOR rate plus

1.00%.

Interest on the loan outstanding is payable quarterly in arrears and on the maturity date. There are

prepayment penalties if the Company elects to prepay the outstanding loan amounts prior to the scheduled maturity date. The principal balance is payable in full on the maturity date.

In conjunction with FactSet’s entrance into the

2017

Credit Agreement, the Company borrowed

$575.0

million in the form of a LIBOR rate loan under the

2017

Revolving Credit Facility. Proceeds from the

2017

Revolving Credit Facility were also used to fund FactSet’s acquisition of BISAM.

All outstanding loan amounts are reported as

ong-term debt

within the Consolidated Balance Sheet, and net of related amortized loan origination fees at

February 28, 2018.

The loan origination fees are amortized into interest expense over the term of the loan using the effective interest method. During the

three

months ended

February 28, 2018

and

2017,

the Company paid approximately

$3.6

million and

$1.3

million in interest on its outstanding debt amounts, respectively. During the

six

months ended

February 28, 2018

and

2017,

the Company paid approximately

$7.0

million and

$2.4

million in interest on its outstanding debt amounts, respectively. As of

February 28, 2018,

commitment fee was owed by FactSet since it borrowed the full amount under the

2017

Credit Agreement.

The

2017

Credit Agreement contained covenants restricting certain FactSet activities, which are usual and customary for this type of loan.

In addition, the

2017

Credit Agreement required that FactSet maintain a consolidated leverage ratio, as measured by total funded debt/EBITDA below a specified level as of the end of each fiscal quarter. The Company was in material compliance with all of the covenants of the

2017

Credit Agreement as of

February 28, 2018.