Deluxe (NYSE: DLX) has recently announced the completion of its offering of $450 million aggregate principal amount of senior secured notes due 2029. These notes will pay interest semi-annually at a rate of 8.125% per annum and were offered and sold to qualified institutional buyers. Furthermore, the company has closed an amendment and restatement of its existing credit agreement to provide for new senior secured credit facilities, including 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, with an extended maturity date to February 1, 2029.
The net proceeds from the notes offering, along with borrowings under the new senior secured credit facilities, were used to refinance the term A loan facility and revolving credit facility and to pay transaction fees and expenses.
Deluxe, a Trusted Payments and Data company, has been making significant strides in supporting businesses and communities. With a history spanning over 100 years, Deluxe's solutions and platforms have supported businesses at all stages of their lifecycle, processing more than $2 trillion in annual payment volume and serving millions of small businesses, financial institutions, and major consumer brands.
As a result of these developments, Deluxe is poised to continue being a trusted business partner for its customers, with a focus on championing business to ensure communities thrive. Following these announcements, the company's shares moved -1.5%, and are now trading at a price of $23.41. For the full picture, make sure to review Deluxe's 8-K report.