EVERTEC reveals $400M Senior Secured notes offering
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.