Lender Processing Services Completes Refinancing of its Senior Secured Credit Facility

Lender Processing Services, Inc. LPS today announced that it has completed the refinancing of its existing credit facility. The total size of the refinanced facility is $1.185 billion, which consists of a 5-year $400 million revolving credit facility, a $535 million 5-year Term Loan A and a $250 million 7-year Term Loan B. The revolving credit facility and the Term Loan A will bear interest at a floating rate subject to a leverage ratio-based pricing grid, but initially will bear interest at a rate equal to LIBOR plus 2.25%. The Term Loan B will bear interest at a rate equal to LIBOR plus 4.5% with LIBOR subject to a 1% floor.