FleetCor launches $1.15 billion term loan B at Libor plus 200 bps

By Sara Rosenberg

New York, April 13 – FleetCor Technologies Inc. launched on Tuesday its $1.15 billion seven-year term loan B (Ba1) with price talk of Libor plus 200 basis points with a 0% Libor floor and an original issue discount of 99.25, according to a market source.

The term loan has 101 soft call protection for six months.

BofA Securities Inc., MUFG, PNC Bank, TD Securities (USA) LLC, Wells Fargo LLC, BMO Capital Markets, Capital One, Fifth Third, Mizuho, Regents Bank and Bank of Nova Scotia are the leads on the deal.

Proceeds will be used to refinance existing debt and to fund an acquisition.

FleetCor is an Atlanta-based business payments company.

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