First Data Refinances Term Loans Due in 2021 and 2022
June 14 2017 - 6:15PM
Business Wire
First Data Corporation (NYSE: FDC) today announced that it has
refinanced approximately $3.8 billion of term loans due March 2021
and July 2022, at an interest rate of LIBOR plus 225 basis
points.
First Data incurred an aggregate of approximately $3.8 billion
in new U.S. dollar denominated term loans maturing July 2022 at
LIBOR plus 225 basis points. The interest rate may be reduced by 25
basis points based on First Data’s corporate rating.
First Data will use the proceeds to refinance all of its euro
denominated term loans ($0.2 billion at euro LIBOR plus 300 basis
points) that are due in March 2021, and all of its existing U.S.
dollar term loans ($2.7 billion at LIBOR plus 300 basis points) and
euro denominated term loans ($0.9 billion at euro LIBOR plus 325
basis points) that are due in July 2022.
The refinancing transaction, when combined with new currency
hedges recently implemented to effectively retain the company’s
previous euro-denominated debt mix, results in annualized cash
interest savings of approximately $30 million.
About First Data
First Data Corporation (NYSE: FDC) is a global leader in
commerce-enabling technology and solutions, serving approximately
six million business locations and 4,000 financial institutions in
more than 100 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 2,800 transactions per second and
$2.2 trillion per year.
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version on businesswire.com: http://www.businesswire.com/news/home/20170614006243/en/
Investor RelationsPeter PoillonFirst
Data212-266-3565Peter.Poillon@firstdata.comMedia
ContactLiidia LiuksilaFirst
Data212-515-0174Liidia.Liuksila@FirstData.com
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