MoneyGram to get incremental term loan on same terms as existing loan

By Angela McDaniels

Tacoma, Wash., March 24 - MoneyGram International Inc. is planning a new incremental term loan, according to a company news release.

The new term loan will have substantially the same terms as the company's existing term loan.

Proceeds will be used to fund the repurchase of about $15 million of common stock from Thomas H. Lee Partners, LP and Goldman Sachs & Co., which are selling 8 million shares of MoneyGram common stock in an underwritten secondary public offering.

In connection with the incremental term loan, the company is seeking consents from debt investors to permit up to a total of $300 million of share repurchases from the selling stockholders.

MoneyGram is a money transfer company based in Dallas.

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