First Data (FDC) Receives Affirmative Responses from Lenders Covering $4.3B+ of Term Loans

October 10, 2016 8:08 AM EDT
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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.



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