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Mercury Payment firms offer price on $100 million add-on loan at par
By Sara Rosenberg
New York, Oct. 24 - Mercury Payment Systems LLC tightened the offer price on its $100 million add-on term loan due July 1, 2017 to par from talk in the 99½ context, according to a market source.
Pricing on the add-on loan is Libor plus 400 basis points with a 1.5% Libor floor, in line with existing term loan pricing.
The add-on and the existing term loan have 101 soft call protection for one year.
Deutsche Bank Securities Inc., Barclays and Credit Suisse Securities (USA) LLC are the lead banks on the deal.
Proceeds are being used to fund a dividend.
Mercury Payment Systems is a Durango, Colo.-based payment processing company that partners with point-of-sale developers and resellers.
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