Fiserv Insurance Solutions plans new term loan to back buyout by Stone Point

By Sara Rosenberg

New York, July 2 - Fiserv Insurance Solutions Inc. is planning on getting a new term loan to help fund Stone Point Capital LLC's acquisition of a 51% interest in the company, an informed source told Prospect News on Wednesday.

Credit Suisse has been mandated as the lead bank on the deal.

The acquisition, which is expected to close in about two weeks, will initially be funded through about $205 million in equity and $335 million in bridge financing out of one of Stone Point's private equity funds.

That bridge financing will be refinanced by the new term loan, the source explained.

Syndication of the term loan is anticipated to launch sometime within the next several months, depending on market conditions, the source said.

The actual size of the term loan could be $335 million, or it could be bigger or smaller than that, the source added.

Stone Point is purchasing the majority interest in Fiserv Inc.'s insurance business through its private equity fund Trident IV.

Fiserv Insurance Solutions is a Cedar Rapids, Iowa, provider of insurance technology, professional services and outsourcing services.

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