First Data launches U.S. and euro tack-on term loans due 2022

By Sara Rosenberg

New York, Nov. 3 – First Data Corp. launched $750 million and €200 million of fungible tack-on term loan debt due July 2022, according to a market source.

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

The term debt is talked at Libor/Euribor plus 375 basis points with no floor and an original issue discount of 99 to 99.25, the source said.

All of the 2022 term debt will get 101 soft call protection for six months with this transaction.

Proceeds will be used to partially refinance the company’s 2017 term loan.

Commitments are due at 3 p.m. ET on Thursday, the source added.

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

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