Mercury Payment Systems to launch $200 million term loan B on Thursday

By Sara Rosenberg

New York, June 15 - Mercury Payment Systems LLC is set to hold a bank meeting at 2:30 p.m. ET on Thursday to launch a proposed $200 million six-year term loan B, according to a market source.

Deutsche Bank Securities Inc. is the lead bank on the deal.

Price talk on the term loan B is not yet available, but it is known that there will be 101 soft call protection for one year, the source said.

Covenants include maximum leverage and minimum interest coverage ratios.

Proceeds will be used to fund a distribution to shareholders.

Pro forma gross leverage is 3.9 times, and net leverage is 3.39 times.

Mercury Payment Systems is a Durango, Colo.-based payment processing company that partners with point-of-sale developers and resellers.

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