EVERTEC Completes Major Fintech Expansion with $660M Sinqia Acquisition in Brazil

EVERTEC has officially finalized its acquisition of Sinqia, marking a significant milestone in the company’s push to establish itself as a dominant fintech player across Latin America. The deal, backed by substantial debt financing, reflects the company’s ambitious strategy to consolidate payment processing and financial software solutions throughout the region.

Acquisition Fueled by $660M in Debt Commitments

To fuel this strategic expansion, EVERTEC secured robust financing support from multiple banking partners. Banco Popular de Puerto Rico and FirstBank Puerto Rico committed an additional $60 million in term loan A funding, while a broader financial syndicate provided $600 million in new term loan B commitments. The financing structure features competitive rates: the supplemental term loan A matches existing agreement terms, while the new tranche carries a SOFR-plus-3.50% rate for SOFR loans and 2.50% for base rate loans.

Strategic Vision for Latin American Dominance

According to Mac Schuessler, EVERTEC’s President and Chief Executive Officer, this acquisition represents a crucial step toward the company’s vision of becoming the comprehensive fintech solution provider for the LATAM region. The combined entity will integrate EVERTEC’s established transaction processing infrastructure with Sinqia’s robust software capabilities for financial institutions, creating a more comprehensive service offering. The integration effort will focus on delivering enhanced products and services while maintaining operational excellence across the region.

Transaction Support and Advisory Teams

The deal attracted heavyweight financial and legal guidance from top-tier advisors. Evercore, Seneca Evercore, and Goldman Sachs led the financial advisory process, supported by Truist Securities. Legal representation came from Latham & Watkins and Mattos Filho. Debt financing arrangements were coordinated by Truist Securities, Citizens Bank, and Fifth Third Bank as joint lead arrangers, ensuring smooth capital deployment and favorable lending terms.

EVERTEC’s Market Position Strengthened

EVERTEC operates as a leading transaction processing company serving Latin America, Puerto Rico, and the Caribbean. The company manages the ATH® network, one of the region’s premier PIN debit networks, and processes more than six billion transactions annually. Through operations spanning 26 Latin American countries, EVERTEC serves financial institutions, merchants, corporations, and government entities with mission-critical payment and technology solutions, complemented by fraud monitoring and core banking services across its markets.