Deluxe (NYSE: DLX) has announced its intention to offer $400 million aggregate principal amount of senior secured notes due 2029 in a private placement. The company plans to utilize the net proceeds from the notes offering, combined with borrowings under its new senior secured credit facilities, to refinance its existing term a loan facility and revolving credit facility, as well as to pay transaction fees and expenses.
The offering of the notes is contingent on the closing of an amendment and restatement of the company's existing credit agreement governing the existing term a loan facility and revolving credit facility to provide for new senior secured credit facilities consisting of a revolving credit facility in an aggregate committed amount of $400 million and a term a loan facility in an aggregate principal amount of $500 million.
Deluxe, a trusted payments and data company, has a significant impact as it processes more than $2 trillion in annual payment volume. The company's scale supports millions of small businesses, thousands of financial institutions, and hundreds of the world's largest consumer brands.
It's important to note that this press release does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities. The notes and related note guarantees have not been and will not be registered under the securities act or any state or other jurisdiction’s securities laws and may not be offered or sold in the United States to, or for the benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the securities act and applicable securities laws of any state or other jurisdiction. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $23.39. If you want to know more, read the company's complete 8-K report here.
