First American Payment to launch $275 million term loan on Wednesday

By Sara Rosenberg

New York, Feb. 4 – First American Payment Systems LP is set to hold a lender call on Wednesday to launch a $275 million term loan (B2), according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 475 basis points to 500 bps with a 0% Libor floor and an original issue discount of 99, the source said.

Proceeds will be used to refinance existing debt.

First American Payment is a Fort Worth-based payments platform.

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