FleetCor launches $246 million term loan B at Libor plus 225-250 bps

By Sara Rosenberg

New York, Jan. 9 – FleetCor Technologies Inc. launched on Monday the repricing of its $246 million term loan B with price talk of Libor plus 225 basis points to 250 bps with no Libor floor and a par issue price, according to a market source.

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

Bank of America Merrill Lynch is the lead bank on the deal.

Commitments are due at 5 p.m. ET on Jan. 17, the source said.

The term loan B will be repriced from Libor plus 300 bps with a 0.75% Libor floor.

FleetCor is a Norcross, Ga.-based provider of specialized payment products and services, including fleet cards, food cards and corporate lodging discount cards for businesses.

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