Bloomberg News

Fidelity National Said to Seek $1.65 Billion Loan to Refinance

December 07, 2011

Dec. 6 (Bloomberg) -- Fidelity National Information Services Inc., a provider of banking and payment technology, is seeking $1.65 billion in loans to support a debt refinancing, according to a person with knowledge of the matter.

JPMorgan Chase & Co. is leading the transaction, which includes a $1.335 billion term loan B and a $315 million term piece A, said the person, who declined to be identified because the terms are private.

The new B term debt will have the same July 2016 maturity as the existing loan and will pay 3.25 percentage points more than the London interbank offered rate, said the person. The lending benchmark will have a one percent floor.

Fidelity National, based in Jacksonville, Florida, may sell the debt at 99 cents on the dollar, the person said, reducing proceeds for the borrower and boosting the yield for investors.

The term loan A will pay 2.25 percentage points more than Libor, the person said, with no minimum on the lending benchmark.

Lenders must submit commitments by Dec. 12, the person said.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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