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Shift4 Payments firms $70 million incremental term loan OID at 99.5
By Sara Rosenberg
New York, Oct. 2 – Shift4 Payments LLC set the original issue discount on its fungible $70 million incremental covenant-lite first-lien term loan due November 2024 at 99.5, the tight end of the 99 to 99.5 talk, according to a market source.
Pricing on the incremental term loan is Libor plus 450 basis points with a 1% Libor floor, in line with existing first-lien term loan pricing.
Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.
Proceeds will be used to refinance a revolving credit facility draw.
Shift4, formerly known as Lighthouse Network LLC, is an Allentown, Pa.-based independent merchant acquiring payment solutions and point of sale software provider.
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