FleetCor finalizes $246 million term loan B at Libor plus 225 bps

By Sara Rosenberg

New York, Jan. 18 – FleetCor Technologies Inc. firmed pricing on its $246 million term loan B at Libor plus 225 basis points, the low end of the Libor plus 225 bps to 250 bps talk, according to a market source.

The term loan has no Libor floor, a par issue price and 101 soft call protection for six months.

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

Proceeds will be used to reprice an existing term loan down 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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