Priority Technology Holdings, Inc. (NASDAQ: PRTH), a provider of payments and banking solutions, has announced its intention to secure new senior credit facilities totaling $1.07 billion, comprising a $70 million revolving credit facility and a $1.0 billion term loan.The initiative aims to extend the maturity of the revolving credit facility to a new five-year term and the term loan to a new seven-year maturity. Proceeds from these new facilities are designated for several strategic financial activities. These include the refinancing of $935.5 million in existing debt, partial funding for a prospective tuck-in acquisition, the settlement of contingent consideration related to the Company’s prior acquisition of Plastiq, and the coverage of transaction fees and expenses.Tim O’Leary, Chief Financial Officer at Priority, stated, “This refinancing initiative aligns with our ongoing strategy to optimize our capital structure and is supported by the current favorable debt market conditions.” He added, “With Moody’s recent upgrade of Priority’s debt rating to ‘B1’ and S&P’s positive outlook on Priority’s B rating combined with our strong financial performance, we feel that the timing is appropriate to launch an effort for a new term loan financing.”Priority Technology Holdings, headquartered in Alpharetta, Georgia, operates a unified commerce engine designed to streamline the collection, storage, lending, and sending of money for businesses. Its platform integrates payables, merchant services, and banking and treasury solutions.The new senior credit facilities and related transactions are anticipated to close in the third quarter of 2025, with further details expected upon finalization of terms.