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FleetCor upsizes revolver, term loan A facility to $4.5 billion
By William Gullotti
Buffalo, N.Y., June 27 – FleetCor Technologies Inc. announced it amended and upsized its pro-rata credit facility to $4.5 billion from $4.01 billion, according to a press release on Monday.
Included with the amendments was a maturity extension, pushing the date to June 2027.
The increase was divided between the facility’s revolver and its term loan A facility, with the revolver increasing to $1.5 billion from $1,285,000,000 and the term loan A increasing to $3 billion from $2.72 billion.
Also amended was the interest rate, converting to SOFR from Libor with margins decreasing by 12.5 basis points.
The increased debt facility will be used for general corporate purposes and to fund future acquisitions.
Bank of America, NA is the administrative agent, also serving as a joint lead arranger and co-syndication agent with MUFG Bank Ltd., PNC Bank, NA, TD Bank, NA and Wells Fargo Bank, NA.
Bank of Montreal, Capital One, NA, Fifth Third Bank, NA, Mizuho Bank, Ltd., Regions Bank, Bank of Nova Scotia and Citizens Bank, NA served as co-documentation agents. Barclays and Royal Bank of Canada served as co-managing agents.
FleetCor is an Atlanta-based business payments company.
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