First Data firms incremental U.S. and euro term loan sizes, OIDs

By Sara Rosenberg

New York, May 13 – First Data Corp. set amounts on its fungible incremental U.S. and euro term loans due July 10, 2022, with the U.S. piece sized at $1,008,000,000 and the euro piece sized at €311 million, according to a market source.

Sizes on the tranches were previously labeled as to be determined.

Also, the original issue discount on the U.S. and euro term loans finalized at 99.75, the tight end of the 99.5 to 99.75 talk, the source said.

As before, the term loans are priced at Libor/Euribor plus 375 basis points with no floor, and all of the July 2022 term loan debt is getting 101 soft call protection for six months.

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

Proceeds will be used to refinance the company’s U.S. term loans due September 2018 and euro term loans due March 2018.

First Data is an Atlanta-based provider of payment processing solutions.

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