TRU · 10-Q · 2026Q1 · Full report

Effect of Certain Debt Covenants

TransUnion · 2026-04-28 · Importance 64 · Surprise 24

TransUnion’s Senior Secured Credit Facility contains customary restrictions and nonfinancial covenants, including a senior secured net leverage ratio test and limits on dividends, investments, dispositions and future borrowings. The senior secured net leverage ratio must not exceed 5.5-to-1 at any measurement date and additional indebtedness or certain restricted payments are conditioned on meeting a tighter 4.25-to-1 or 4.75-to-1 threshold depending on the action. A covenant breach could limit borrowing availability or trigger default remedies; as of March 31, 2026 the company was in compliance with all debt covenants.

Key facts

• As long as the senior secured net leverage ratio does not exceed 4.25-to-1, TransUnion may incur additional incremental loans subject to conditions and commitments by lenders
• The senior secured net leverage ratio under the Senior Secured Credit Facility must not exceed 5.5-to-1 at any measurement date
• Under the Senior Secured Credit Facility, TransUnion may make dividend payments up to the greater of $100 million or 10.0% of Consolidated EBITDA per year, or an unlimited amount provided no default exists and total net leverage ratio does not exceed 4.75-to-1
• The Senior Secured Credit Facility contains nonfinancial covenants including restrictions on dividends, investments, dispositions, future borrowings and other specified payments
• As of March 31, 2026, TransUnion was in compliance with all debt covenants

Impact estimates