Capco to launch $315 million credit facilities on Thursday afternoon

By Sara Rosenberg

New York, July 11 – Capco (Cardinal US Holdings Inc.) will hold a bank meeting at 2 p.m. ET on Thursday to launch $315 million of credit facilities, according to a market source.

Barclays, Credit Suisse, BMO Capital Markets, HSBC Securities (USA) Inc. and Natixis provided the financing commitment.

The facilities consist of a $65 million five-year revolver and a $250 million seven-year term loan B, the source said.

Proceeds will be used to help fund the purchase by Clayton, Dubilier & Rice (CD&R) of a 60% interest in the company from FIS, and FIS will retain a roughly 40% interest in the company.

FIS will receive net cash proceeds of $477 million for the 60% interest it is selling in the company.

Closing is expected by early third quarter, subject to required regulatory approvals and customary conditions.

Capco is a provider of business, digital and technology consulting services for the financial services industry.

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