First Data updates original issue discount on U.S., euro term loans

By Sara Rosenberg

New York, July 8 – First Data Corp. changed the original issue discount on its $5,258,000,000 in U.S. term loans and a €311 million term loan to 99½ for rolled and new money commitments from 99½ for new money and 99¾ for rolled, according to a market source.

Price talk on the $4.25 billion first-lien term loan due March 2018, $1,008,000,000 first-lien term loan due September 2018 and €311 million term loan due March 2018 is still Libor/Euribor plus 350 basis points with no Libor floor.

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

Proceeds will be used to refinance existing term loans due in March 2018 and September 2018 that are priced at Libor/Euribor plus 400 bps with no Libor floor.

Commitments are due at 4 p.m. ET on Tuesday and amendment signature pages are due at 4 p.m. ET on Wednesday, the source added.

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

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