Harland Clarke to launch term loan amendment and extension on Friday

By Sara Rosenberg

New York, May 12 - Harland Clarke Holdings Corp. has scheduled a meeting with lenders for Friday to launch an amendment and extension of its senior secured term loan facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The current maturity date on the term loan is June 30, 2014, and it is priced at Libor plus 250 basis points.

As of March 31, there was roughly $1.7 billion drawn under the term loan.

Credit Suisse Securities (USA) LLC is the lead bank on the amend and extend transaction.

Harland Clarke is a San Antonio, Texas-based provider of integrated payment, marketing and security services and retail products.

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