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Mercury Payment launches $199 million term loan at Libor plus 425 bps
By Sara Rosenberg
New York, March 19 - Mercury Payment Systems LLC launched a $199 million term loan on Monday with price talk of Libor plus 425 basis points with a 1.25% Libor floor and a par offer price, according to a market source.
The loan includes 101 soft call protection for one year, the source said.
Commitments are due on March 26.
Deutsche Bank Securities Inc., Barclays Capital Inc. and Credit Suisse Securities (USA) LLC are the lead banks on the deal.
Proceeds will be used to reprice an existing $199 million term loan that was obtained last year at Libor plus 500 bps with a 1.5% Libor floor.
Mercury Payment Systems is a Durango, Colo.-based payment processing company that partners with point-of-sale developers and resellers.
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