CVC, EQT Credit in second refinancing round for Paymentsense
CVC Credit Partners and EQT Credit have jointly arranged a £218m refinancing package for London-based merchant services provider Paymentsense.
The facility comprises both senior and subordinated financing for Paymentsense. It follows a first financing agreement by the two debt providers in November 2016, when both arranged a £110m unitranche facility for the payment services company.
Founded in 2009 and headquartered in London, Paymentsense specialises in providing card processing services to small and medium-sized businesses. It processes around £7bn transactions annually, according to the company.
EQT's credit platform invests with three strategies: senior debt, direct lending and credit opportunities. It has invested €4.5bn across 155 companies since its launch in 2008.
CVC Credit Partners is a global credit asset manager with offices in the US and Europe, and $18.4bn in assets under management.
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