Business News: Global Payments Announces Pricing of $3.0 Billion Senior Unsecured Notes

ATLANTA, GA (STL.News) Global Payments Inc. (NYSE: GPN) announced the pricing of a public offering of $3.0 billion aggregate principal amount of senior unsecured notes, consisting of the following:

  • $1.0 billion of 2.650% senior unsecured notes due 2025
  • $1.25 billion of 3.200% senior unsecured notes due 2029
  • $750 million of 4.150% senior unsecured notes due 2049

The offering is expected to close on August 14, 2019, subject to the satisfaction of customary closing conditions, and is being conducted in connection with the previously announced proposed merger with Total System Services, Inc. (“TSYS”).  The Company intends to use the net proceeds from the offering, together with borrowings under its new unsecured $2.0 billion term loan facility and new unsecured $3.0 billion revolving credit facility which closed on July 9, 2019, and cash on hand, to refinance certain outstanding indebtedness of Global Payments and TSYS, to make cash payments in lieu of fractional shares as part of the merger consideration, to pay transaction fees and costs related to the merger and for general corporate purposes.

The offering is being made only by means of a prospectus supplement and accompanying prospectus, which are part of a shelf registration statement that the Company filed with the Securities and Exchange Commission.  An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission’s website at www.sec.gov.  Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request them by contacting: BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, N.C. 28255-0001, Attn: Prospectus Department (email: dg.prospectus_requests@baml.com; telephone number: 1-800-294-1322); or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk (telephone number: (212) 834-4533; fax: (212) 834-6081).

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