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MoneyGram to offer $415 million secured notes for debt refinancing
By Paul A. Harris
Portland, Ore., July 7 – MoneyGram International Inc. is expected to show up in the high-yield primary market in the near-to-intermediate future with a $415 million offering of senior secured notes, sources say.
The Dallas-based money transfer company launched a term loan on Wednesday. BofA Securities Inc., Wells Fargo Securities LLC and United Texas Bank are leading the loan. Commitments are due July 14.
Proceeds from the debt offered will be used to repay first- and second-lien term loans.
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