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First Data seeks repricing of $2.44 billion and €179 million loans
By Paul A. Harris
Portland, Ore., April 2 - First Data Corp. is seeking 100 basis points of spread reduction for $2,436,000,000 and €179.3 million amounts of its first-lien term loan due March 2017 (B1/B+), according to a market source.
The repricing would reduce the Libor spread to 400 bps from 500 bps.
The deal is talked at 99.25 to 99.5.
Credit Suisse Securities (USA) LLC is leading the transaction.
The loan has no Libor floor and no call protection.
First Data is a Greenwood Village, Colo., provider of electronic commerce and payment services.
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