First Data ups U.S. term loan to $1.25 billion, firms OID at 99.25

By Sara Rosenberg

New York, Nov. 5 – First Data Corp. upsized its U.S. fungible tack-on term loan due July 2022 to $1.25 billion from $750 million, according to a market source.

Also, the original issue discount on the U.S. loan, as well as on a fungible €200 million tack-on term loan due July 2022, firmed at 99.25, the tight end of the 99 to 99.25 talk, the source said.

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 added.

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

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

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.