First American Payment to launch $370 million credit facility Friday

By Sara Rosenberg

New York, Dec. 1 – First American Payment Systems LP is set to hold a bank meeting at 10 a.m. ET in New York on Friday to launch a $370 million credit facility, according to a market source.

Goldman Sachs Bank USA is the lead bank on the deal.

The facility consists of a $40 million revolver, a $230 million first-lien term loan and a $100 million second-lien term loan, the source said.

Proceeds will be used to refinance existing debt.

First American Payment Systems is a Fort Worth, Texas-based payments platform serving small- and medium-sized businesses.

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