Lender Processing Services plans new $1.3 billion credit facility

By Sara Rosenberg

New York, July 25 - Lender Processing Services Inc. expects to get a new $1.3 billion senior secured credit facility, according to a news release.

The facility consists of a $400 million revolver, a $350 million five-year term loan A and a $550 million seven-year term loan B.

Proceeds will be used to refinance an existing senior secured credit facility and for general corporate purposes.

The company said in the release that the new credit facility is expected to enhance liquidity, extend maturities and provide more flexibility under covenants.

Closing is expected in August, subject to market and other customary conditions.

Lender Processing Services is a Jacksonville, Fla.-based provider of integrated technology, services and loan performance data and analytics to the mortgage, consumer lending, capital markets and real estate industries.

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