Visa International Service Association owns and operates retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities. The company owns and operates VisaNet, a global processing platform that provides transaction processing services, primarily authorization, clearing, and settlement, as well as related value-added services. It offers a range of branded payments product platforms, which customers use to develop and offer credit, charge, deferred debit, debit, and prepaid payments, as well as cash access programs for cardholders. The company owns a rang...
900 Metro Center Bouleverd
Foster City, CA 94404
Founded in 1974
Visa Inc., Visa International Service Association and Visa U.S.A. Inc. Enter into Unsecured $3 Billion Revolving Credit Agreement
Feb 4 13
Visa Inc., Visa International Service Association and Visa U.S.A. Inc. on Jan. 31 entered into a 364-day, unsecured $3 billion revolving credit agreement with a syndicate of lenders, including Bank of America NA as administrative agent. The new credit facility will expire Jan. 30, 2014. It will replace the companies' prior $3 billion credit facility, which will expire Feb. 15. Borrowings under the credit facility are available for general corporate purposes. Interest on the borrowings would be charged at the LIBOR or an alternative base rate, in each case plus applicable margins that fluctuate based on the applicable rating of senior unsecured long-term debt securities of Visa Inc. JPMorgan Chase Bank NA acted as syndication agent in connection with the new credit facility and J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Citigroup Global Markets Inc., Standard Chartered Bank, The Bank of Tokyo-Mitsubishi UFJ Ltd., U.S. Bank NA, Wells Fargo Securities LLC, The Bank of China, Los Angeles Branch, and Canadian Imperial Bank of Commerce, New York Agency, served as joint lead arrangers and joint book-runners in connection with the new credit facility.