Metris to make $75 million prepayment to lenders

By Caroline Salls

Pittsburgh, March 31 - Metris Cos. Inc. said it will make an optional $75 million prepayment to its lenders on Friday.

The optional prepayment requires a 5% premium be paid to lenders.

After this prepayment, $150 million of the original $300 million loan will be outstanding. The company also made a $125 million prepayment in the fourth quarter of 2004 and the first quarter of 2005.

Metris is a Minnetonka, Minn.-based bankcard issuer.

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