Fidelity National Information launches $1.65 billion of term loans

By Sara Rosenberg

New York, Dec. 6 - Fidelity National Information Services Inc. held a lender call at noon ET on Tuesday to launch $1.65 billion of new term loans, according to a market source.

J.P. Morgan Securities LLC and Bank of America Merrill Lynch are the lead banks on the deal.

The debt consists of a $1.335 billion term loan B due July 2016 and a $315 million add-on term loan A-2 due July 2014, the source said.

Price talk on the term loan B is Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99, the source said.

There is 101 repricing call protection for 18 months under the B loan, the source added.

Proceeds will be used to refinance an existing $1.485 billion term loan B and up to $315 million of term loan A-1 borrowings.

Other funds for the refinancing will come from $150 million of 7 5/8% senior unsecured notes.

Fidelity National is a Jacksonville, Fla.-based banking and payments technology services provider.

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