Heartland repays and terminates credit agreement as part of merger

By Wendy Van Sickle

Columbus, Ohio, April 26 – Heartland Payment Systems, Inc. fully repaid and terminated its amended and restated credit agreement dated Sept. 4, 2014 with Bank of America, NA as administrative agent on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The termination of the credit agreement was in connection with Heartland’s acquisition by Global Payments Inc.

As previously reported, Global Payments funded the cash consideration of the $4.3 billion cash-and-stock transaction through a combination of borrowings under its credit facilities and available cash on hand.

Heartland is a Princeton, N.J.-based payment processor. Global Payments is an Atlanta-based provider of payment technology services.

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