First Data shops $750 million loan at Libor/Euribor plus 375 bps area

By Sara Rosenberg

New York, June 23 – First Data Corp. is seeking a $750 million U.S. dollar and euro equivalent seven-year first-lien term loan that is talked in the Libor/Euribor plus 375 basis points area with no floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., KKR Capital Markets, HSBC Securities (USA) Inc., Mizuho, PNC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the leads on the deal. Credit Suisse Securities (USA) LLC is the administrative agent.

Commitments are due on Thursday, the source added.

Proceeds will be used to refinance bonds.

First Data is an Atlanta-based provider of electronic commerce and payment services.

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