When you go to a store, how often do you pay the cashier with a check? If you’re like most Americans, you probably don’t and may not have used your checkbook in quite some time. After all, checks are messy, tiresome to write, troublesome to record, and, if you are the one getting paid with a check, there’s always the time it takes to deposit it and the risk of loss or theft if mailed. It’s no wonder that checks have been replaced with electronic cards all over the world. In fact, many countries have transitioned to electronic transactions far faster than the U.S.

But there are a number of areas where value transfer is still done with paper checks, or even cash. These are usually situations where there are special requirements. Perhaps the person being paid does not have a

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Global Payments Inc. (GPN) has announced the completion of a $300 million, 3-year unsecured term loan with a consortium of financial institutions.

The electronic transaction services provider said it plans to use the funds to repay its $350 million revolving credit arrangement.

The revolving facility was deployed for the $307.7 million acquisition of the remaining 49% ownership in the company's U.K. joint venture with HSBC Bank Plc.

The loan is structured in 2 tranches, a $230 million and another 44 million British pounds sterling tranche (equivalent to $70 million).

Global Payments also stated that the original loan amount was $150 million. However, on account of strong investor demand, the amount was boosted to $300 million.

GPN, a Zacks #3 Rank ("Hold") stock, has advanced more than 2% on volume of approximately 266,000, which is well below the average daily volume of about 633,000.

 

"GPN" Free Stock Analysis: Buy? Sell? Hold?...

Today we are featuring top-performing "Small-Cap" equity mutual funds, which invest primarily in equity securities of companies with market capitalizations of less than $1 billion.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Small-Cap equity Funds.3 Strong Samples Old Westbury Global Small & Mid Cap (OWSMX) was incepted in April 2005. The investment seeks long term capital appreciation.

The fund invests in a broad, diversified portfolio of common stocks of small and medium capitalization companies traded in the U.S. or in foreign countries, including emerging market countries.

The fund's top holdings include Carter's Inc. (CRI), Dun & Bradstreet Corp. (DNB) and Global Payments Inc. (GPN).

Janus Triton (JATTX) seeks long-term growth of capital. The fund is designed for investors looking to diversify their portfolio

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Global Payments Inc. (GPN) bought out the remaining 49% stake in its one-year old merchant services joint venture from HSBC Bank Plc. (HBC) for $307.7 million.

The acquisition of the online card processing unit that serves British business clients is expected to hit the Atlanta, Georgia-based company's earnings by fiscal 2010. Global Payments had acquired majority rights in the joint venture for $439 million last June to expand its payment processing services in the UK.

"Our performance in the United Kingdom this year has provided a strong foundation for long-term growth, as we continue to provide a wide range of high-value payment solutions and world-class service to merchants," Chief Executive Paul R. Garcia said.

Under terms of the deal, HSBC will extend its exclusive marketing alliance agreement with Global Payments until June 2019.

Shares of Global Payments were up nearly 3% to $38.55 at

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Today we are featuring top-performing "Aggressive Growth" equity mutual funds, which primarily invest in high-risk equity securities to achieve maximum growth.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Aggressive Growth Equity Funds.3 Superior Examples

Waddell & Reed Adv New Concepts A (UNECX) was incepted in June 1983. The fund seeks capital growth by investing primarily in a diversified portfolio of common stocks of U.S. and foreign mid-cap companies.

Kimberly A. Scott has been lead manager at the fund since February 2001. The fund has topped the total returns of its benchmark index in the last 1-, 3- and 5-year periods.

The fund's top holdings include Henry Schein Inc. (HSIC), Global Payments Inc. (GPN) and Noble Energy Inc. (NBL).

Transamerica Premier Focus Inv

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