GREENWICH – Silver Point Capital on June 17 announced that its direct lending business led a $500 million term loan financing in connection with the acquisition by Repay Holdings Corp., a leading provider of integrated payment processing solutions, of Kubra Data Transfer LTD.
Silver Point is serving as documentation agent in the transaction.
The total financing, which consists of a $100 million revolving credit facility and a $500 million term loan, funded the acquisition of KUBRA as well as supported the repayment of REPAY’s existing revolving credit facility.
KUBRA is a leading provider of bill payment and customer communication management solutions serving some of the largest utility and government entities, touching more than 40% of households in the U.S. and Canada. REPAY is a leading provider of integrated payment processing solutions to verticals that have specific transaction processing needs.
“This financing supports REPAY’s acquisition of KUBRA and brings together two complementary, vertical-leading businesses,” said Anthony DiNello, head of direct lending at Silver Point Capital. “Silver Point is pleased to lead the facility and help structure a solution that supports the combined company as a scaled consumer bill payment provider.”
REPAY announced the definitive agreement to acquire KUBRA on March 30 and completed the acquisition on June 1.
Truist Securities acted as sole lead arranger on the term loan and will serve as the administrative agent.
