First Data Announces New $6 Billion Credit Facility

NEW YORK--(BUSINESS WIRE)--First Data (NYSE: FDC) today entered into a new $6 billion credit facility bearing a rate of Libor plus 150 basis points and maturing in October 2023. The new facility is comprised of a new revolving credit facility of $1.25 billion and new Term Loan A facility of $4.75 billion. The proceeds were partly used to refinance its existing revolving credit facility maturing June 2020 and its existing term loans due June 2020. The remainder of the facility will be drawn later to refinance other existing indebtedness. The Company anticipates estimated interest cost savings resulting from these actions to be approximately $90 million in 2019.