Syncapay to launch $500 million credit facilities on Wednesday

By Sara Rosenberg

New York, Nov. 30 – Syncapay Inc. will hold a lender call at 11 a.m. ET on Wednesday to launch $500 million of credit facilities, according to a market source.

BMO Capital Markets, Fifth Third and Truist are the leads on the deal.

The facilities consist of a $50 million revolver and a $450 million seven-year term loan B, the source said.

Proceeds will be used to help fund the merger of Buffalo Grove, Ill.-based daVinci Payments, a deliverer of corporate funded payments, and Conshohocken, Pa.-based North Lane, a payments technology company, with Syncapay the holding company.

With this transaction, Centerbridge Partners LP is making a new majority equity investment in Syncapay.

Closing is expected this quarter, subject to regulatory approval and other customary conditions.

Syncapay is a Plano, Tex.-based acquirer of payment companies.

© 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.