VeriFone sets Monday lender call for $300 million incremental term loan

By Paul A. Harris

Portland, Ore., April 26 – VeriFone Systems, Inc. set a lender call for 10:30 a.m. ET on Monday for a $300 million fungible incremental first-lien term loan due Aug. 20, 2025 (B1/B), according to a market source.

The deal comes with a 400 basis point spread to Libor and a 0% Libor floor, the same as the existing loan.

As with the existing loan there is no call protection.

Commitments are due Thursday.

Credit Suisse is the lead arranger.

The San Jose, Calif.-based provider of electronic payment services and technologies plans to use the proceeds for general corporate purposes including possible mergers and acquisitions.

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