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EVO Payments refinances credit facility

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EVO Payments refinances credit facility

EVO Payments Inc amended its senior secured credit facility to increase its revolving credit facility to $200 million and reduce its interest rate spread by 100 basis points.

In addition, the amended agreement reduced the interest rate spread on its first lien term loan by 75 basis points, and provides for a further 25 basis point reduction when the company's credit rating is upgraded.

EVO Payments CFO Kevin Hodges said the payoff of certain debt and the repricing of the senior secured credit facility has helped the company to reduce its annual interest expense by approximately $25 million.