FleetCor cuts spread on $1.15 billion term B to Libor plus 175 bps

By Sara Rosenberg

New York, April 22 – FleetCor Technologies Inc. trimmed pricing on its $1.15 billion seven-year term loan B (Ba1) to Libor plus 175 basis points from Libor plus 200 bps, according to a market source.

The term loan still has a 0% Libor floor, an original issue discount of 99.25 and 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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