Optimal Payments to launch €220 million term loan B on Monday

By Sara Rosenberg

New York, May 28 – Optimal Payments plc is set to hold a bank meeting on Monday to launch a €220 million seven-year term loan B, according to a market source.

The company’s €575 million credit facility also includes a €75 million revolver and a €280 million five-year term loan A, the source said.

Barclays, BMO Capital Markets and Deutsche Bank Securities Inc. are the bookrunners on the deal.

Proceeds will be used to refinance existing debt and help fund the acquisition of Skrill Group from CVC Funds and other shareholders, for an enterprise value of about €1.1 billion.

Closing on the acquisition is subject to the satisfaction of a number of conditions, including Optimal Payments’ shareholder and regulatory approvals.

Optimal Payments is an Isle of Man-based provider of online and mobile payment processing services. Skrill is a London-based digital payments company.

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