TransFirst to launch $430 million credit facility on July 20

By Sara Rosenberg

New York, July 13 - TransFirst Holdings Inc. is scheduled to hold a bank meeting on July 20 to launch its proposed $430 million credit facility, according to a market source.

Merrill Lynch Capital is the lead bank on the deal.

The facility consists of a $35 million revolver talked at Libor plus 250 to 275 basis points, a $275 million first-lien term loan B talked at Libor plus 250 to 275 bps and a $120 million second-lien term loan talked at Libor plus 625 to 650 bps, the source said.

Proceeds will be used for a dividend recapitalization.

TransFirst is a Dallas-based provider of credit card processing services and payment enabling technologies.

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