| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for RBS WorldPay > News item |
RBS WorldPay to launch £235 million term B-2 to U.S. investors Friday
By Sara Rosenberg
New York, Sept. 16 - RBS WorldPay is scheduled to hold a bank meeting in New York on Friday to launch its proposed £235 million seven-year U.S. dollar equivalent term loan B-2, according to a market source.
Goldman Sachs, Barclays, Morgan Stanley, RBS and UBS are the lead banks on the deal.
Price talk on the term loan B-2 is Libor plus 500 basis points with a 1.75% Libor floor, the source said. The original issue discount is not yet available.
The company's £970 million secured credit facility (Ba2/BB) also includes a £75 million six-year revolver, a £75 million six-year capital expenditures facility, a £160 million six-year term loan A, a £325 million seven-year term loan B-1 and a £100 million seven-year euro equivalent term loan B-3.
There was a meeting in London on Thursday to launch the European portion of the deal.
Proceeds will be used to help fund the acquisition of an 80.01% interest in the company by Advent International and Bain Capital from RBS Group for an enterprise value of up to £2.025 billion.
The sale is subject to regulatory approvals and is expected to be completed by the end of the year.
RBS WorldPay is a provider of global payment processing services.
© 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.