Shift4 Payments, Inc. 8-K

What Happened

• On January 5, 2026 Shift4 Payments, Inc. subsidiary Shift4 Payments, LLC entered into Amendment No. 3 to its Second Amended and Restated First Lien Credit Agreement with lenders and Goldman Sachs Bank USA as administrative agent. The amendment refinanced and replaced the existing term loans with new "Amendment No. 3 Refinancing Term Loans" as part of a repricing previously announced.
• After giving effect to the amendment, Shift4, LLC had $997,500,000 of outstanding term loan borrowings under the Amended Credit Agreement and $0 outstanding on its revolving facility. Except for the pricing changes and the replacement of the prior term loans, other material terms of the credit agreement remain substantially unchanged.

Key Details

• Effective date: January 5, 2026 (Amendment No. 3).
• Outstanding borrowings after the amendment: $997,500,000 (term loans); $0 revolving loans.
• Interest margin reductions: for SOFR-based loans reduced from 2.50%–2.75% to 2.00% per annum; for alternate base rate loans reduced from 1.50%–1.75% to 1.00% per annum (changes depend on leverage bands).
• Administrative agent: Goldman Sachs Bank USA. The amendment refinanced and replaced prior term loans in full.

Why It Matters

• The repricing lowers Shift4’s interest margin on its term debt, which should reduce interest expense and improve cash flow assuming borrowings and other conditions remain similar. That can modestly affect free cash flow available to shareholders or to pay down debt.
• This amendment creates a direct financial obligation (the new term loans) of Shift4, LLC (with subsidiary guarantors). Investors should note the company’s leverage level and future borrowing use as these loans remain on the balance sheet.
• Other credit agreement covenants and terms are largely unchanged; representations in the amendment were made for amendment purposes and may be limited in scope. The full amendment is filed as an exhibit to the 8‑K for investors who want the detailed legal terms.