October 20, 2014 3:18 PM ET

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Company Overview of Affinion Group Holdings, Inc.

Company Overview

Affinion Group Holdings, Inc. is engaged in designing, marketing, and servicing customer engagement and loyalty solutions worldwide. The company partners with various companies to develop and market programs that offer a range of services to their end-customers. Its customer engagement and loyalty solutions include the development of customized and relevant products and services that address fundamental consumer needs and fulfill the expectations consumers have of the services and offers they expect to receive from its marketing partners; marketing strategy and management of customized marketing programs; and data analysis utilizing its proprietary technology and databases to target customer...

6 High Ridge Park

Stamford, CT 06905

United States

Founded in 1973

3,925 Employees

Phone:

203-956-1000

Key Executives for Affinion Group Holdings, Inc.

Chief Executive Officer and Director
Age: 43
Chief Financial Officer and Executive Vice President
Age: 43
Chief Executive Officer of Global Financial Services and Co-President of Affinion
Age: 43
President of Insurance Services
Age: 45
President of Connexions Loyalty
Age: 48
Compensation as of Fiscal Year 2014.

Affinion Group Holdings, Inc. Key Developments

Affinion Group Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

Affinion Group Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $303.8 million compared to $336.1 million a year ago. Income from operations was $6.5 million compared to $30.8 million a year ago. Loss before income taxes and non-controlling interest was $66.2 million compared to $20.2 million a year ago. Net loss attributable to the company was $70.4 million compared to $23.7 million a year ago. Adjusted EBITDA, excluding pro forma adjustments was $57.1 million compared to $84.6 million a year ago. The reduction in adjusted EBITDA was primarily driven by the expected decline in membership and an increase in cost of insurance associated, with the conversion [indiscernible] Transamerica. Net revenues for the second quarter of 2014 decreased 9.6%, due primarily to the expected declines in Membership products revenues, as well as a decline in Insurance and Package revenues, partially offset by growth in International revenue. For the six months period, the company reported net revenues of $625.2 million compared to $683.5 million a year ago. Income from operations was $19.4 million compared to $72.5 million a year ago. Loss before income taxes and non-controlling interest was $110.8 million compared to $29.7 million a year ago. Net loss attributable to the company was $119.3 million compared to $38.2 million a year ago. Net cash used in operating activities was $2.3 million compared to net cash provided by operating activities of $59.5 million a year ago. Capital expenditures were $23.7 million compared to $19.1 million a year ago. Adjusted EBITDA, excluding pro forma adjustments was $127.6 million compared to $170.1 million a year ago. The company expects 2014 adjusted EBITDA guidance to a range of $280 million to $295 million.

Affinion Group Holdings, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Affinion Group Holdings, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Affinion Group, Inc. and Affinion Group Holdings, Inc. Enters into Amendment No. 4 to Amended and Restated Credit Agreement

On May 20, 2014, Affinion Group, Inc. (Affinion) and Affinion Group Holdings, Inc. (Holdings) entered into amendment No. 4 to the amended and restated credit agreement, amendment No. 4 to the amended and restated guarantee and collateral agreement and amendment No. 3 to the Holdings Guarantee and Pledge Agreement, pursuant to which Affinion and Holdings amended its Amended and Restated Credit Agreement, dated as of April 9, 2010, with the lenders from time to time party thereto, the Deutsche Bank Trust Company Americas (DBTCA), as administrative agent and collateral agent, Credit Suisse Securities (USA) LLC (CSS), as syndication agent, Deutsche Bank Securities Inc. (DBSI), J.P. Morgan Securities LLC (JPM) and UBS Securities LLC (UBS), as documentation agents, Bank of America Securities LLC (BAS) and CSS, as joint lead arrangers, and BAS, CSS, DBSI, JPM and UBS, as joint bookrunners. Pursuant to the Amendment, among other things, Affinion (i) extended the maturity to April 30, 2018 of $775 million in aggregate principal amount of existing senior secured term loans and existing senior secured revolving loans, which loans were designated as first lien term loans, (ii) extended the maturity to October 31, 2018 of $377.9 million in aggregate principal amount of existing senior secured term loans on a second lien senior secured basis, which, together with additional borrowings obtained on the same terms, total $425 million, (iii) extended the maturity to January 29, 2018 of $80 million of the commitments (and related obligations) under the existing senior secured revolving credit facility on a first lien senior secured basis, (iv) reduced the commitments under the existing senior secured revolving credit facility by $85 million and (v) removed the existing financial covenant requiring Affinion to maintain a minimum interest coverage ratio.

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