First Data (FDC) Receives Affirmative Responses from Lenders Covering $4.3B+ of Term Loans
- Euro and global stocks hold Italy-related gains ahead of ECB
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Trump's corporate tax holiday could spur pharma M&A
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
First Data Corporation (NYSE: FDC) announced that it has received affirmative responses from a group of new and existing lenders who have agreed to provide approximately $4.3 billion and €0.2 billion of term loans due March 2021 at an interest rate of LIBOR plus 300 basis points.
The transaction announced today allows First Data to refinance its existing term loans that are due in March 2021 at an interest rate 100 basis points lower than those they will replace and result in annualized cash interest savings of approximately $45 million.
“Working with our lenders, this significant transaction allows us to refinance our current 2021 term loans at more favorable interest rates,” said Himanshu Patel, Chief Financial Officer, First Data. “As we have done over the past several years, First Data will continue to take advantage of opportunities when they present themselves to improve our capital structure.”
The successful completion of this transaction is subject to market and other conditions. There is no assurance that it can be completed on the terms outlined in this announcement.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- First Data Earns Perfect Score as a Best Place to Work for LGBT Community on the 2017 Corporate Equality Index
- Verastem (VSTM) Announces Duvelisib Phase 2 Data in iNHL; ORR was 46%
- AbbVie (ABBV) Offers Update on IMBRUVICA Phase 2 in r/r MZL; Median Duration Response Not Reached
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!