First Data closes $1.25 billion revolver, $4.75 billion term loan A

By Sarah Lizee

Olympia, Wash., Oct. 26 – First Data Corp. entered into a new $6 billion credit facility comprised of a $1.25 billion revolving credit facility and a $4.75 billion term loan A facility, according to a press release.

The facility bears interest at Libor plus 150 basis points and matures in October 2023.

Proceeds were partly used to refinance the company’s existing revolver and term loans due in June 2020.

The remainder of the facility will be drawn later to refinance other existing debt.

The company said it anticipates estimated interest cost savings resulting from the actions to be about $90 million in 2019.

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

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