Simpson Thacher Represents First Data in Refinancing
12.18.13
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Simpson Thacher represented First Data Corporation (“First Data”) in connection with its Rule 144A and Regulation S offering of $725 million aggregate principal amount of additional 11.75% Senior Subordinated Notes due 2021 (the “Notes”). The offering is expected to close on January 6, 2014.
First Data will use the net proceeds, together with cash on hand, to redeem all of its outstanding 11.25% Senior Subordinated Notes due 2016 and to pay accrued and unpaid interest.
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 and Tony Rim (Capital Markets) and Steve Todrys, Jonathan Cantor and Andrew Purcell (Tax).