Comdata Seeks to Raise $855M In Financing
Payment processor Comdata is seeking to raise $855 million in debt financing as part of a plan to retire some of its parent company's debt ahead of the Comdata initial public offering.
Payment processor Comdata is seeking to raise $855 million in debt financing as part of a plan to retire some of its parent company's debt ahead of the Comdata initial public offering.
Comdata and parent Ceridian announced they have proposed provisional tender offers for two series of Ceridian notes, including a series of toggle notes, scheduled to expire next year.
The outstanding notes have principal amounts remaining of $765 million and $91 million and carry interest rates of 11.25 percent and between 12.25 and 13 percent.
Comdata hopes to pay $1,007 per $1,000 of notes to those submitting notes by June 4. After that, the company will pay $987 per $1,000 in principal.
Comdata, which provides fleet fuel cards, announced in early April it would file for the public offering.
Related:
Originally posted on Automotive Fleet
More Fuel
July Diesel Trends Update
The average price of a gallon of diesel increased again this week, and the EIA reported a new national average of $5.31 at the start of the week.
Read More →
WEX Brings Standard Fleet's Connected Vehicle Platform to Fleet Customers
This week’s product launch with Standard Fleet’s connected vehicle platform reflects WEX Venture Capital's strategy of turning startup innovation into customer solutions. Standard Fleet is now available to WEX fleet customers.
Read More →
Teletrac Navman Adds Mixed-Energy Fleet Tools to TN360
The new Energy Hub combines fuel transactions, EV charging data, vehicle range, and energy costs in one dashboard for fleets operating multiple vehicle and energy types.
Read More →
WEX DriverDash adds CITGO, Expands Nationwide Access for Fleets
The DriverDash mobile payment app, by WEX, has been integrated into the CITGO merchant network, which means WEX has expanded its U.S. station footprint with the addition of approximately 4,000 CITGO locations.
Read More →
Mixed Energy Fleet Tips for Balancing EVs, Gas and Diesel Vehicles
Mixed energy fleets are becoming the new normal. Learn how fleet managers are balancing EVs, gas and diesel vehicles while controlling costs and planning for the future.
Read More →
June Diesel Trends Update
The national average price of a gallon of diesel has dropped again, this week by more than 16 cents. All five regions reported lower average prices, ranging from almost 13 cents to more than 28 cents cheaper than a week ago.
Read More →
RoadFlex Launches RoadFlex Direct Open API Platform
RoadFlex Direct connects fuel cards, controls, and data to the telematics and fleet management systems fleets already run, from Geotab and Samsara to Fleetio and RTA, with no separate dashboard or double data entry.
Read More →
The Key to Fuel Efficiency Sits in the Cab
Learn how driver behavior, telematics, coaching, and fuel data can help fleets improve fuel efficiency, lower costs, and reduce emissions.
Read More →
RoadFlex Brings Fuel Tax Compliance & Audit-Ready Reporting to Government Fleets
RoadFlex now offers its capabilities to help public-sector and public works fleets streamline fuel tax exemptions, reclamation, reconciliation, and audit-ready reporting.
Read More →
Fillip Fleet Expands Into U.S. Market With Digital Fuel Card Platform
Fillip Fleet expands into the U.S., bringing digital fuel cards, fleet expense controls, and contactless payments to fleets across North America.
Read More →