LPS Money Problems? Lender Processing Services to Refinance Its Senior Secured Credit Facilities

Lender Processing Services, Inc. to Refinance Its Senior Secured Credit Facilities

JACKSONVILLE, Fla., July 25, 2011 /PRNewswire/ — Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today announced plans to refinance its existing senior secured credit facilities.

The proposed financing is expected to consist of a $400 million revolving credit facility, a $350 million 5-year Term Loan A and a $550 million 7-year Term Loan B.  Proceeds will be used to refinance existing indebtedness, pay related fees and expenses and provide for other general corporate purposes.  The new senior secured credit facilities are expected to enhance liquidity, extend maturities, and provide more flexibility under the covenants.

The closing of the refinancing is expected to occur in August, 2011, subject to market and other customary conditions.




4 Responses to “LPS Money Problems? Lender Processing Services to Refinance Its Senior Secured Credit Facilities”
  1. lizinsarasota says:

    Hell’s bells, they ain’t broke!
    The guy who just quit, that guy, Carbiener, got a total of $8.4 million in total compensation last year, according to Jax Biz Journal.
    Good God Almighty, strike me with those kinds of “money problems”!!

  2. Readdocs says:

    Every time a foreclosure does not sale it takes money out of their pockets.
    When the cycle of reselling foreclosures falls off due to no demand, it takes
    money out of their pocket
    They are designed to fail.

  3. klp says:

    Could they be preparing a pre-emptive bankruptcy like Nifong? It is clear that this forgery sweatshop is a class-action lawsuit waiting to be filed.

  4. Litgant says:

    Anyone who refinances this spoof outfit is crazy. I predict within the five years they will be no more. And how are they going to pay off this debt when the number of foreclosures will drastically decline and their fraud services needed little by little no more. Maybe this is a sweetheart blackmail deal. If the banks they helped reap billions do not play ball, they will disclose all their inside dealings, go bankrupt, and the banks will all be hauled into every court in the land. I see a real deal in this refinancing.

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