MoneyGram expects to start buyout financing marketing period soon

By Sara Rosenberg

New York, May 4 – MoneyGram International Inc. plans to commence the marketing period for its financing and finalize all other pre-closing activities in order to complete its acquisition by Madison Dearborn Partners LLC by an expected date of on or before June 1, according to a news release.

Pursuant to the merger agreement, the marketing period for the financing may last for as long as 15 consecutive business days.

As previously reported, the company disclosed in filings with the Securities and Exchange Commission that Goldman Sachs, Deutsche Bank, Barclays and Wells Fargo have committed to provide the financing, including a $150 million revolving credit facility and $900 million of secured financing.

MoneyGram, a Dallas-based digital P2P payments company, is being bought by Madison Dearborn for $11.00 per share in an all-cash transaction valued at about $1.8 billion.

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