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

By Sara Rosenberg

New York, July 13 – FleetCor Technologies Inc. launched on its call on Thursday a $250 million term loan that is talked Libor plus 225 basis points with a 0% Libor floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

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

Commitments are due on July 27, the source added.

Proceeds will be used to amend and extend an existing term loan.

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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