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MoneyGram International Reports Successful Refinancing

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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.

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