MoneyGram International Reports Successful Refinancing
Vinson & Elkins advised MoneyGram International in a successful refinancing that included loans from both traditional banks and alternative capital sources. The refinancing was documented pursuant to a new first lien credit agreement and a new second lien credit agreement, each with Bank of America, N.A. acting as administrative agent.
The new agreements provide for:
• a first lien secured three-year revolving credit facility of $35 million
• a first lien secured four-year term loan facility of $645 million
• a second lien secured five-year term loan facility of $245 million
The second lien term loan lenders also received warrants for equity interests in the company.
The V&E finance team was led by partner Cris Dewar
with senior associates Randy Aman
and Danny Strassman
and associate Will Cage
. Partners Alan Bogdanow
and Chris Rowley
led the corporate team with associate Alex Robertson
, senior associate Doug Smith
and associates Alex Turner
and Breanna Kelly
. Partner Jim Meyer
and associate Neil Clausen
provided tax advice.