Evertec to launch $425 million term loan B on Thursday morning

By Sara Rosenberg

New York, Nov. 7 – Evertec Group LLC is scheduled to hold a bank meeting at 9:30 a.m. ET in New York on Thursday to launch a $425 million six-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc., Citigroup Global Markets Inc. and Goldman Sachs Bank USA are the lead arrangers on the deal.

Proceeds will be used to refinance the company’s existing senior secured credit facilities.

Expected term loan ratings are B2/B+, the source added.

Evertec is a Puerto Rico-based end-to-end payment processor and transaction solutions provider.

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