Alliance Data amends bridge loan, extending tenor, modifying pricing

By Sara Rosenberg

New York, April 1 - Alliance Data Systems Corp. amended its bridge loan, extending the maturity to Dec. 31 from March 31 and revising pricing, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Pricing on the loan can range, based on leverage, from Libor plus 160 basis points to 220 bps for the period from March 1 to June 30, and Libor plus 210 bps to 270 bps for the period on and after July 1.

In addition, the amendment provides for two principal payments in the amount of $25 million each on June 30 and Sept. 30.

On March 17, the company prepaid $150 million of the original $300 million bridge loan.

Alliance Data is a Dallas-based provider of marketing, loyalty and transaction services.

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