First Data tightens OID on U.S. and euro term loan repricing to 99 5/8

By Sara Rosenberg

New York, April 4 - First Data Corp. revised the original issue discount on its $2,436,000,000 and €178 million first-lien term loans (B1/B+) to 99 5/8 from talk of 99¼ to 991/2, according to a market source.

As before, both term loans due March 2017 are priced at Libor plus 400 basis points with no Libor floor.

Proceeds will be used to reprice the existing U.S. and euro term loans due 2017 down from Libor plus 500 bps.

Recommitments were due at noon ET on Thursday, the source added.

Credit Suisse Securities (USA) LLC and KKR Capital Markets are leading the deal.

First Data is a Greenwood Village, Colo.-based provider of electronic commerce and payment services.

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