Speedy Cash wraps $75.5 million credit facility at Libor plus 900 bps

By Sara Rosenberg

New York, June 24 - Speedy Cash wrapped syndication on its $75.5 million credit facility at pricing of Libor plus 900 basis points, according to a market source.

The deal has a 4% Libor floor and was sold to investors at an original issue discount of 98, the source said.

Jefferies acted as the lead bank on the facility.

Tranching is comprised of a $10 million revolver and a $65.5 million term loan.

Proceeds are being used to help fund a minority sponsor investment by Friedman Fleischer & Lowe.

Speedy Cash is a Wichita, Kan., retailer of alternative financial services.

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