EVERTEC reveals $400M Senior Secured notes offering
EVERTEC is headquartered in Cupey.
EVERTEC Inc. announced Monday that its main operating subsidiary, EVERTEC Group, LLC intends to offer, subject to market and other conditions, up to $400 million aggregate principal amount of senior secured notes due 2022.
The notes are being offered in a private placement, the San Juan-based company said.
“The notes will be senior secured obligations of EVERTEC Group and will be unconditionally guaranteed, jointly and severally by the company and its existing and future wholly-owned subsidiaries (other than EVERTEC Group) that also guarantee its existing senior secured credit facilities and will be secured on a pari passu basis by a lien on the assets that secure its existing senior secured credit facilities,” Evertec said in a statement issued Monday.
The company intends to use the proceeds from the offering to refinance in full its existing term B senior secured credit facility and to pay all fees and related expenses, it said.
