Simpson Thacher Represents First Data in Refinancing
05.30.13
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Simpson Thacher represented First Data Corporation (“First Data”) in connection with its Rule 144A and Regulation S offering of $750 million aggregate principal amount of 11.75% Senior Subordinated Notes due 2021.
First Data is using the net proceeds from this offering to redeem $520 million aggregate principal amount of its outstanding 11.25% Senior Subordinated Notes due 2016 (the “2016 Notes”), to purchase $230 million aggregate principal amount of the 2016 Notes in a privately negotiated transaction with an existing holder of the notes and to pay related fees and expenses.
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, Joo Hyun Lee and Derrick Sutter (Capital Markets) and Steve Todrys, Jonathan Cantor and Andrew Purcell (Tax).