Fiserv Insurance lifts term loan pricing to Libor plus 450 bps, 98 OID

By Sara Rosenberg

New York, July 31 - Fiserv Insurance Solutions Inc. increased pricing on its $335 million six-year term loan to Libor plus 450 basis points from Libor plus 350 bps, and increased the original issue discount to 98 from 981/2, according to a market source.

The term loan still has a 3.25% Libor floor.

Fiserv Insurance Solutions' $385 million credit facility also includes a $50 million five-year revolver.

Credit Suisse is the lead bank on the deal.

Proceeds will be used to help back Stone Point Capital LLC's already completed acquisition of a 51% interest in the company.

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

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