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First Data News

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  JPMorgan Names Zames Sole COO as Bisignano Joins First Data

  JPMorgan Chase & Co., the biggest U.S. bank, named Matt Zames sole chief operating officer as Frank Bisignano departed to become chief executive officer of First Data Corp.

• JPMorgan’s Frank Bisignano Said to Be Leaving Company, NYT Says

  Frank Bisignano, co-chief operating officer of JPMorgan Chase & Co., is expected to leave as soon as this week, the New York Times reported, citing several people familiar with his decision.

• First Data, Cequel Seek Lower Rates as Yields Tumble to New Lows

  First Data Corp., the credit-card processor owned by KKR & Co., and U.S. cable operator Cequel Communications LLC were among companies tapping the loan market to reduce interest rates as increasing demand for the debt pushes yields to the lowest level on record.

• Laureate Demands Loan Premium; Pramerica Marks Europe CLO Return

  Laureate Education Inc. is asking a premium from lenders if they want to join a $310 million loan it’s seeking to refinance debt, while Pramerica Investment Management Ltd. sold the second collateralized loan obligation in Europe this year.

• Charter Communications Cuts Loan Rate; BOJ Easing Favors CLOs

  Charter Communications Inc. cut the rate it will pay on its term loan, while Crown Castle International Corp. is seeking to refinance borrowings. Bank of Japan’s easing measures will be supportive of collateralized loan obligation issuance, Morgan Stanley said.

• Aabar Gets $2.5 Billion Credit Line; Blackstone Starts Loan ETF

  Aabar Investments PJSC, a unit of Abu Dhabi’s International Petroleum Investment Co., signed a $2.5 billion loan to refinance a deal maturing next month as Blackstone Group LP teamed with State Street Corp. to form an exchange-traded fund for purchasing speculative-grade loans.

• KKR’s First Data Issues $785 Million of Bonds, Obtains Term Loan

  First Data Corp., the credit-card processor acquired by KKR & Co. in 2007, raised $785 million in eight-year bonds and got a $258 million term loan to refinance debt.

• KKR-Controlled First Data May Escape Harm From Lower Fees, Analyst Says

  First Data Corp. , the payments processor controlled by KKR & Co., faces “generally neutral” impact from new U.S. rules that may cut debit-card transaction fees 84 percent, according to Credit Suisse Group AG.

• KKR’s First Data Plans to Sell $850 Million of Bonds to Reduce Term Loans

  First Data Corp., the credit card processor bought by KKR & Co. in 2007, plans to sell $850 million of notes to pay down loans.

• First Data Debt Falls as Shannon Resigns, Investors Pull Out of Junk Funds

  First Data Corp. bonds tumbled to the lowest since July after Chief Financial Officer Pat Shannon resigned and investors pulled money out of high-yield, high-risk funds.

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