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Evertec talks $400 million eight-year notes at 5%-5¼%; pricing Friday
By Paul A. Harris
Portland, Ore., June 20 – Evertec, Inc. talked a $400 million offering of non-callable eight-year senior secured notes (B1/BB-) to yield 5% to 5¼%, according to market sources.
That talk is in line with earlier guidance that had the deal yielding in the low 5% range.
The deal is expected to price Friday.
J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunners.
The San Juan, Puerto Rico-based company plans to use the proceeds to repay its term loan B in full.
Evertec is a full-service transaction processing business that operates in Latin America.
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