Nelson Mullins Riley & Scarborough partner William Gaines and associate Keri Chayavadhanangkur were counsel to Global Payments Inc. on negotiating a 5-year, $200 million credit agreement with JPMorgan Chase Bank, Wells Fargo Bank, Bank of America and Regions Bank.
Global Payments, of Atlanta, said it will use the loan proceeds “to pay for a portion of the $439 million purchase price for its 51% ownership in the recently announced limited liability partnership with HSBC Bank,” according to a regulatory filing. Global Payments announced on June 30 that it formed a joint venture with HSBC Bank PLC to provide payment card processing services in the United Kingdom. Global Payments paid HSBC $439 million in cash to acquire a 51 percent ownership in the joint venture. As part of the deal, Global Payments and HSBC also formed a 10-year marketing alliance. King & Spalding partner Mark Thompson in London advised Global Payments on the HSBC joint venture. Global Payments’ general counsel is Suellyn P. Tornay.