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Global Payments Expands Financing Capacity to $2.25 Billion to Support Strategic Initiatives

Global Payments Inc. (NYSE: GPN), one of the largest worldwide providers of payment solutions, announced today the closing of a five-year senior unsecured $1.25 billion term loan facility and $1 billion revolving credit facility arranged by Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Fifth Third Securities, Inc., PNC Capital Markets LLC, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and TD Securities (USA) LLC.

The proceeds from the term loan will be used to repay the outstanding balance of the existing revolver and to repay the outstanding balance of approximately $600 million on Global Payments' existing term loan.The company intends to use the remaining capacity to support strategic growth initiatives, including acquisitions and ongoing share repurchases. 

Global Payments' Senior Executive Vice President and Chief Financial Officer, David E. Mangum, said, "We are delighted to complete the refinancing and expansion of our existing term loan and revolver under improved terms.  This allows us to take advantage of lower rates, and we now have over $1.3 billion of available debt capacity to pursue our growth and capital deployment strategies."