Fidelity National holds senior managing agents meeting for $3.2 billion facility

By Sara Rosenberg

New York, Feb. 2 - Fidelity National Information Services Inc., a subsidiary of Fidelity Financial Inc., held a meeting on Wednesday for senior managing agents regarding its proposed $3.2 billion senior credit facility (Ba3/NA/BB-), according to a market source.

A date for the general bank meeting is not available yet, the source added.

Bank of America, JP Morgan Chase, Wachovia, Deutsche Bank and Bear Stearns are the lead banks on the deal.

The facility consists of a $400 million revolver, a $1 billion term loan A and a $1.8 billion term loan B, with all three tranches expected to price in the Libor plus 200 basis points area.

Proceeds from the two term loans will be used to help fund the recapitalization of the company. In late December, the company entered into a stock purchase agreement under which it would sell an approximately 25% minority equity interest in its common stock to an investment group led by Thomas H. Lee Partners LP and Texas Pacific Group for about $500 million.

The revolver is expected to be undrawn at closing.

Fidelity National Information is a Jacksonville, Fla., provider of technology solutions, processing services and information services to the financial services and real estate industries.

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