First Data Announces Affirmative Responses from Lenders to Refinance Term Loans Due in 2021
October 10 2016 - 8:05AM
Business Wire
First Data Corporation (NYSE: FDC) today 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.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology and solutions, serving approximately six million
business locations and 4,000 financial institutions in 118
countries around the world. The company’s 24,000 owner-associates
are dedicated to helping companies, from start-ups to the world’s
largest corporations, conduct commerce every day by securing and
processing more than 2,500 transactions per second and $1.9
trillion per year.
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Investor RelationsPeter PoillonFirst
Data212-266-3565Peter.Poillon@firstdata.comorMedia
ContactLiidia LiuksilaFirst
Data212-515-0174Liidia.Liuksila@FirstData.com
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