The Firm recently represented First Data Corporation (“First Data”) in steps designed to increase its flexibility and options to refinance and extend the maturities of its current capital structure. To effect these changes, First Data entered into an amendment with lenders under its existing senior secured credit facilities. First Data also sold $845 million aggregate principal amount of additional 7.375% Senior Secured Notes due 2019 in reliance on Rule 144A and Regulation S.
First Data used the proceeds of the debt offering to repay term loans under its senior secured credit facilities and to pay fees and expenses associated with the amendment and the notes issuance.
First Data is a portfolio company of KKR and one of the largest global technology and payments processors, providing electronic commerce and payment solutions for merchants, financial institutions and card issuers worldwide.
The Simpson Thacher team for these transactions included James Cross, Daniel Kay and Aditya Basrur (Banking and Credit), Richard Fenyes, David Azarkh and Brittany McCants (Capital Markets), Erik Hepler (Collateral), Mardi Merjian (Real Estate) and Steve Todrys, Jonathan Cantor and Andrew Purcell (Tax).