PaymentSense marketing €320 million five-year senior secured notes; initial talk 8% area

By Paul A. Harris

Portland, Ore., July 28 – PaymentSense Ltd. plans to shop a €320 million offering of five-year senior secured notes by means of investor conference calls set to take place until Friday, according to a market source.

Early guidance has the deal coming to yield in the 8% area.

JPMorgan is the lead.

The notes come with two years of call protection.

The London-based merchant services provider plans to use the proceeds to repay debt.

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