MoneyGram Misses Deadline on $398 Million Leveraged Loan Deal

MoneyGram International Inc. failed to convince lenders to slash its borrowing costs on a leveraged loan before a deadline Thursday, according to people with knowledge of the matter.

A group of banks led by Goldman Sachs Group Inc. is attempting to lower the interest rate margin on the company’s $398 million loan maturing in 2030 to as low as 400 basis points over the benchmark rate, a different person with knowledge of the matter said last week. They also asked not to be identified discussing a private matter. The new loan is offered at 99.75 cents on the dollar.

The ...