First Data announced a new five-year, $1.25 billion revolving credit facility, replacing First Data’s existing $1 billion facility which was due to mature in September 2016. Credit Suisse, Cayman Islands Branch acted as administrative agent.

The new revolver has a principal interest rate of LIBOR plus 350 basis points, a reduction of 50 basis points from the rate on the existing facility. The new revolving credit facility matures in June 2020.

“We are pleased to have closed on this new revolving credit facility,” said First Data Director of Finance Michael Neborak. “It demonstrates our ability to enhance our capital structure and reflects the continued endorsement of our transformation by the lending community.”

The new revolving credit facility will be more fully described in a current report on Form 8-K to be filed with the Securities and Exchange Commission.

First Data is the global provider of payment technology and services solutions.