News

Global Cash Access Completes More Than $435 Million Buyout of First Data Interest

Wednesday 10 March 2004 15:36 CET | News

Global Cash Access (GCA), has completed its recapitalization and repurchase of First Data interest in the companys parent holding company, GCA Holdings, for approximately $435 million. GCA provides cash access products and services to approximately 70 percent of the gaming establishments in the United States, Canada, the Caribbean, and the United Kingdom. GCAs products and services allow gaming patrons to access funds through a variety of methods, including credit card cash advances, point-of-sale, or POS, debit card transactions, ATM withdrawals, check cashing transactions and money transfers. GCA also owns Central Credit, which is recognized in the gaming industry as the premier resource for underwriting patron credit decisions, or markers. Banc of America Securities LLC acted as the exclusive financial adviser to M & C International in connection with the repurchase and recapitalization transactions. Banc of America Securities LLC also acted as sole lead arranger and sole book running manager for GCAs $280 million senior secured credit facility and as sole bookrunning manager for GCAs $235 million senior subordinated notes offering.

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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce