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UK payment processing business WorldPay is to approach lenders to lower the margins on its Pounds 970m senior loans and to raise a further Pounds 60m to finance acquisitions.
Prices will decrease by 50bp on the company's existing facilities, with the exception of the pound(s)375m sterling tranche of its term loan'B', which will have its margin cut by 25bp to 475bp. The new pound(s)60m will be an add-on to the sterling tranche.
If they are accepted, the 50bp margin...