Priority Technology Holdings, Inc. announced on August 4, 2025, the successful closing of $1.1 billion in new senior credit facilities. This financing, which closed on July 31, 2025, consists of a $1 billion term loan with a 7-year maturity and a $100 million revolving credit facility with a 5-year maturity. The company lowered the interest rate on the term loan by 100 basis points compared to its existing debt.
The loan proceeds will be used to refinance existing debt, satisfy outstanding obligations related to the 2023 acquisition of Plastiq, and fund strategic growth initiatives. This refinancing is projected to save Priority nearly $7 million in annualized interest expense. The extended term loan maturity to 2032 provides long-term financial stability.
CFO Tim O’Leary stated that this significant refinancing strengthens the balance sheet and improves cash flow. It also provides Priority with enhanced financial flexibility to execute its growth strategy. The successful issuance on favorable terms demonstrates capital market confidence in the company's business model and growth trajectory.
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