FleetCor Technologies increases credit facility to $1.4 billion

By Sara Rosenberg

New York, Nov. 7 - FleetCor Technologies Inc. upsize its credit facility by $500 million to $1.4 billion, with the deal comprised of a $550 million term loan and an $850 million revolver, according to a news release.

The facility has a $250 million accordion feature.

The interest rates on the upsized deal were unchanged.

Proceeds from the upsizing, which was completed on Nov. 6, will be used to help fund future acquisitions, for working capital and other general corporate purposes, including to potentially fund share repurchases from certain of its significant legacy investors.

FleetCor is a Norcross, Ga.-based provider of fuel cards and workforce payment products to businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.