Cravath represented Goldman Sachs Bank USA in connection with the arrangement of approximately $360 million of senior secured credit facilities made available to First American Payment Systems, L.P., a leading provider of global solutions in merchant account services. The facilities included a $240 million first lien term loan B facility, $40 million first lien revolving credit facility and $80 million second lien term loan B facility, to be used to refinance the existing first and second lien credit facilities, fund the payment of accrued sponsor fees, fund a dividend payment on the Class C Common Stock and for general corporate purposes. The transactions closed on January 6, 2017.
The Cravath team included partner Tatiana Lapushchik, senior attorney Kimberly A. Grousset and associate Alex M. Dzioba on banking matters; partner J. Leonard Teti II on tax matters; partner Jennifer S. Conway and associate Jana I. Hymowitz on executive compensation and benefits matters; and partner Matthew Morreale on environmental matters. Inji Jung also worked on tax matters.