Harland Clarke to launch $750 million term loan B-3 on Wednesday

By Sara Rosenberg

New York, April 9 - Harland Clarke Holdings Corp. is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch a proposed $750 million first-lien covenant-light incremental term loan B-3 due May 2018, according to a market source.

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Jefferies Finance LLC and J.P. Morgan Securities LLC are the lead banks on the deal.

The term loan has 101 soft call protection for one year and a springing maturity.

Proceeds will be used to refinance an existing non-extended term loan due 2014 that is priced at Libor plus 250 basis points.

Harland Clarke is a San Antonio-based provider of payment solutions, marketing services and security solutions.

© 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.