EVERTEC, Inc. Announces Successful Repricing of Existing Term Loan B
May 16, 2024 at 04:05 pm
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EVERTEC, Inc. announced that it has successfully repriced the outstanding $540 Term Loan B (TLB) due in 2030. The repricing is leverage neutral and reduces the interest rate margins applicable to the TLB to SOFR + 325 basis points, a reduction of 25 basis points from SOFR + 350 basis points. No other terms were changed on the TLB.
EVERTEC, Inc. is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually. It offers a range of services for core bank processing, cash processing and technology outsourcing. It owns and operates the ATH network, which is a personal identification number (PIN) debit network in Latin America. It serves a range of financial institutions, merchants, corporations and government agencies with solutions that enable them to issue, process and accept transactions securely. The Company's range of services spans the entire transaction processing value chain and includes a range of front-end customer-facing solutions.