The Firm represented the initial purchasers, led by Goldman Sachs & Co. LLC, in connection with the offering by Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc., subsidiaries of Shift4 Payments, Inc. (“Shift4 Payments”), of $1.1 billion aggregate principal amount of 6.750% Senior Notes due 2032.
In addition, the Firm represented Goldman Sachs Bank USA, as administrative agent, in connection with the second amendment and restatement of Shift4 Payments, LLC’s credit agreement providing for, among other things, a new $450 million revolving credit facility, which replaces Shift4 Payments, LLC’s existing revolving credit facility.
The net proceeds from the notes offering along with the proceeds of the revolving loans will be used for general corporate purposes, which includes working capital, acquisitions, retirement of debt, repurchases of common stock and other business opportunities.
Shift4 Payments is a leading independent provider of software and payment processing solutions in the United States based on total volume of payments processed. The company’s technologies help power over 500 software suites including some of the largest and most recognized software providers in the world.
The Simpson Thacher team for this transaction included Richard Fenyes, Lia Toback, Ben Pittenger, John Balletta, Louise Choi and Christina Park (Capital Markets); Jennifer Albrecht, Tina Zheng, Roey Vardi, Alexandra Cullen and Angela Yu (Banking and Credit); Jonathan Pall (Collateral); Michael Mann (Tax); Tristan Brown (Executive Compensation and Employee Benefits); Andrew Pagliughi (FINRA & Blue Sky); Mike Isby (Environmental); Spencer Sloan (Financial Institutions); and Courtney Welshimer and Paige Brinton (IP).