First Data Refinances Term Loans Due in 2021 and 2022

First Data Corporation (NYSE: FDC) today announced that it has refinanced approximately $3.8 billion of term loans due March 2021 and July 2022, at an interest rate of LIBOR plus 225 basis points.

First Data incurred an aggregate of approximately $3.8 billion in new U.S. dollar denominated term loans maturing July 2022 at LIBOR plus 225 basis points. The interest rate may be reduced by 25 basis points based on First Data’s corporate rating.

First Data will use the proceeds to refinance all of its euro denominated term loans ($0.2 billion at euro LIBOR plus 300 basis points) that are due in March 2021, and all of its existing U.S. dollar term loans ($2.7 billion at LIBOR plus 300 basis points) and euro denominated term loans ($0.9 billion at euro LIBOR plus 325 basis points) that are due in July 2022.

The refinancing transaction, when combined with new currency hedges recently implemented to effectively retain the company’s previous euro-denominated debt mix, results in annualized cash interest savings of approximately $30 million.

About First Data

First Data Corporation (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.

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Investor RelationsPeter PoillonFirst [e-mail] ContactLiidia LiuksilaFirst [e-mail]