A potential paydown on Fidelity National Information Services' bank debt enabled levels to recover from midweek lows. Last Wednesday, the $800 million "A" loan traded at 98 1/2-98 3/4, while the company's $2 billion "B" loan went off at 98 5/8-99. The "B" recovered to par when rumors of a potential 7% paydown ratable between the "A" and "B" emerged. Still, the name is off its 101 1/8 high. The credit is priced at LIBOR plus 1 3/4% and is led by Bank of America. Pat Farenga, Fidelity's treasurer, did not return calls.
Fidelity National Bounces On Paydown Rumor