First Data adds $1.3 billion term A due 2020 at Libor plus 200 bps

By Wendy Van Sickle

Columbus, Ohio, Jan. 24 – First Data Corp. added $1.3 billion of new term A loans due June 2, 2020 via a Monday joinder agreement to its credit agreement dated Sept. 24, 2007 with Credit Suisse AG, Cayman Islands Branch as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest is initially Libor plus 200 basis points and may be reduced by 25 bps if the company’s leverage ratio falls below 3.5 times.

The term A loans amortize in quarterly installments of 1.25% of the principal amount each, with the remaining principal due at maturity.

Proceeds will be used to refinance a portion of the company’s existing first-lien debt.

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

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