First Data sets U.S., euro loan pricing at Libor/Euribor plus 300 bps

By Sara Rosenberg

New York, Oct. 7 – First Data Corp. finalized pricing on its $4,368,000,000 and €154 million first-lien term loans due March 24, 2021 (Ba3/BB) at Libor/Euribor plus 300 basis points, the low end of the Libor/Euribor plus 300 bps to 325 bps talk, according to a market source.

As before, the term loans have no floor, a par issue price and 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 reprice existing U.S. and euro term loans down from Libor/Euribor plus 400 bps with no floor.

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

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