First Data finalizes U.S. and euro tack-on term loans at 99.25 OID

By Sara Rosenberg

New York, Nov. 5 – First Data Corp. firmed the original issue discount on its $750 million and €200 million of fungible tack-on term loan debt due July 2022 at 99.25, the tight end of the 99 to 99.25 talk, according to a market source.

Pricing on the term debt is Libor/Euribor plus 375 basis points with no floor.

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

Recommitments were due at 2 p.m. ET on Thursday, the source said.

Allocations are expected on Friday.

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

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

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

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