With global commerce slumping,
- The payment system company’s clients range from retailers to equally-ailing gas-station operators, businesses that don’t have nearly as much use for its services at the moment.
- Debt holders, in the meantime, have pushed its
$2.175 billion term loanwell into distressed territory.
- The first-lien senior secured loan due 2025 has plunged from near par in January to about 61 cents on the dollar as of Monday, according to data compiled by Bloomberg.
- VeriFone, with “limited revenue growth and elevated leverage,” also operates in a “highly intense” competitive environment, analysts...