Payment services provider Moneygram International said Monday it notified its debt holders that it plans to make an optional $40 million repayment.

The payment will be made Tuesday on the company's tranche B term loan under the senior secured credit facility.

Since the start of the year, Moneygram said it has lowered its total outstanding debt by 19 percent. That includes the latest $40 million payment, which the company said brings its total debt payments to $187 million for the year.

Shares of Moneygram rose 6 cents, or 2 percent, to $2.62 Monday.