Fleetcor in market with $350 million dividend-funding term loan

By Paul A. Harris

St. Louis, April 10 - Fleetcor Technologies, Inc. is in the market with a $350 million credit facility that is expected to launch by the end of the present week, according to a market source.

JP Morgan is leading the dividend-funding deal, which is comprised of a $50 million revolving credit facility and a $300 million term loan.

Fleetcor provides management services for business fleets. The company issues fleet cards, which are accepted at more than 40,000 fueling stations across the United States.

Summit Partners and Bain Capital together own a majority interest in Fleetcor, which has headquarters in Norcross, Ga.

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