Paya readies launch of $295 million credit facilities on Tuesday

By Sara Rosenberg

New York, June 7 – Paya Inc. is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch $295 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Jefferies LLC, Ares, Golub Capital and GSO are the lead arrangers on the deal.

The facilities consist of a $45 million revolver and a $250 million seven-year covenant-lite first-lien term loan, the source said.

The term loan has 101 soft call protection for six months.

Expected credit facilities ratings are B1/B+.

Commitments are due at noon ET on June 18, the source added.

Proceeds will be used to refinance an existing term loan.

Paya is an Atlanta-based integrated payments and commerce platform.

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