Simpson Thacher Represents First Data in Refinancing
04.10.13
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Simpson Thacher represented First Data Corporation (“First Data”) in connection with its Rule 144A and Regulation S offering of $815 million aggregate principal amount of 10.625% Senior Notes due 2021. Simpson Thacher also represented First Data in connection with the repricing of its dollar and euro denominated term loans due 2017 in an aggregate principal amount of approximately $2,435 million and €178 million, respectively.
First Data used the net proceeds from this offering, together with cash on hand, to fund the cash tender offer for all of its outstanding $783.5 million 9.875% Senior Unsecured Notes due 2015.
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 Richard Fenyes, David Azarkh, Kyle Scherer and Joo Hyun Lee (Capital Markets); James Cross, Dan Kay and Misan Ikomi (Credit); and Steve Todrys, Jonathan Cantor and Andrew Purcell (Tax).