Subsequent Events Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Business Acquisition

In January 2019, we acquired 100% of the capital stock of Rodoban Transportes Aereos e Terrestres Ltda., Rodoban Servicos e Sistemas de Seguranca Ltda., and Rodoban Seguranca e Transporte de Valores Ltda. (together "Rodoban") in Brazil for approximately $130 million. Rodoban provides cash-in-transit, money processing and ATM services and generates annual revenues of approximately $80 million. We are in the process of completing our initial accounting for this business combination.

Senior Secured Credit Facility Amendment

In February 2019, we amended our Senior Secured Credit Facility, which includes a $1 billion Revolving Credit Facility and a Term Loan Facility. Under the amendment, we increased our Term Loan Facility principal outstanding from approximately $469 million to $800 million. The proceeds from the amendment were used to repay outstanding principal under the Revolving Credit Facility as well as certain fees related to the closing of the transaction. Principal payments are due quarterly for the amended Term Loan Facility equal to 1.25% of the initial loan amount with a final payment due in February 2024. The maturity date for the Revolving Credit Facility was also extended from October 2022 to February 2024.

Interest Rate Swaps

In February 2019, we entered into a series of interest rate swaps with a total notional value of $400 million. These interest rate swaps are intended to hedge cash flow risk associated with our variable interest rate debt as we have locked into a fixed interest rate over the term of these contracts. We have designated these interest rate swaps as cash flow hedges for accounting purposes.