Jaffe Raitt Heuer & Weiss Supports Goldman Sachs Deal

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Southfield-based law firm Jaffe Raitt Heuer & Weiss represented payment-processing agency Applied Merchant Systems in a financing agreement with Goldman Sachs and the Business Development Corporation of America.

Jaffe partner Holli Targan said the deal also negotiated the purchase of a sales organization that provides Applied Merchant Systems with more than $2.2 billion in annual processing volume.

According to Applied Merchant Systems CEO Jonathan Severn, the transaction expanded the company’s senior credit facility with Goldman Sachs. Senior credit facilities are a type of secured loan that are typically backed by securities or bond exchanges.

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