Heartland Payment closes on $775 million term loan, revolver

By Marisa Wong

Madison, Wis., Sept. 4 – Heartland Payment Systems, Inc. announced a new credit facility that includes a five-year $375 million secured term loan and a $400 million revolving credit line.

Lead arrangers for the new credit facility were Bank of America Merrill Lynch, BMO Capital Markets Corp. and SunTrust Robinson Humphrey, Inc.

The new term loan was used to fund Heartland’s acquisition of TouchNet Information Systems, Inc., according to a press release.

The facility closed simultaneously with the acquisition on Thursday.

Heartland is a Princeton, N.J.-based payment processor and provider of merchant business solutions. TouchNet is a Lenexa, Kan.-based integrated commerce solutions provider to higher-education institutions.

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