VeriFone saw pricing on both tranches of its $540 million credit facility flex down from LIBOR plus 2% to LIBOR plus 1 3/4% last week, according to a banker. The deal launched Sept. 27 and faced some investor questions about whether pricing was too tight for the sector, but ultimately followed in the footsteps of Royal Bank of Canada's Open Text, a similar deal, which was also flexed down a quarter of a basis point (CIN, 9/29). The VeriFone credit, led by JPMorgan and Lehman Brothers, consists of a six-year, $40 million revolver and a seven-year, $500 million term loan. It is being used by VeriFone to fund the $793 million acquisition of Lipman Electronic Engineering. The deal was well oversubscribed and that was why pricing was flexed down, an investor said.