The Firm represented the initial purchasers, led by Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc., in connection with the offering by Shift4 Payments, Inc. (“Shift4 Payments”), of $632.5 million aggregate principal amount of 0.5% Convertible Senior Notes due 2027. The net proceeds from the offering will be used for general corporate purposes, which may include acquisitions or investments. The offering of the Convertible Senior Notes was upsized from the originally announced size of $500 million.
Shift4 Payments is a leading independent provider of integrated payment processing and technology solutions, delivering a complete ecosystem of solutions that extend beyond payments to include a wide range of value-added services. The company’s technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, e-commerce, lodging, gaming and many more. With over 7,000 sales partners, the company securely processed more than 3.5 billion transactions annually for over 200,000 businesses in 2019.
The Simpson Thacher team for this transaction included Richard Fenyes, Lia Toback, Ben Heriaud, Tommy Garber and Rachel Lerman (Capital Markets); Andrew Purcell and Jasmine Hay (Tax); Tristan Brown (Executive Compensation and Employee Benefits); Andrew Pagliughi (FINRA & Blue Sky); Mike Isby (Environmental); Adam Cohen and Spencer Sloan (Financial Institutions); and Melanie Jolson (IP). Summer Associate Jiyoon Kim also provided valuable assistance.