Shift4 Payments, Inc. has successfully completed an offering of €680 million aggregate principal amount of 5.500% senior notes due 2033 (the “euro notes”) and a tack-on offering of $550 million aggregate principal amount of 6.750% senior notes due 2032 (the “new 2032 notes”).
The new 2032 notes were issued as additional securities under an indenture, dated August 15, 2024, pursuant to which the issuers issued $1,100,000,000 in aggregate principal amount of their 6.750% senior notes due 2032 (the “existing 2032 notes”) on the same date. The new 2032 notes and the existing 2032 notes are treated as a single class of debt securities under the 2032 notes indenture, and the new 2032 notes have identical terms to the existing 2032 notes, other than with respect to the issue date and issue price.
The net proceeds of the offering of the notes, the new secured term loan b credit facility, and Shift4 Payments, Inc.’s issuance and sale of mandatory convertible preferred stock and cash on hand will be used for various purposes, including the payment of a portion of the cash consideration due in respect of Shift4 Payments, Inc.’s acquisition of Global Blue Group Holding AG, the redemption or repayment of the issuers’ 4.625% senior notes due 2026, and general corporate purposes, including repayment of debt, other strategic acquisitions, and growth initiatives.
The notes were offered in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended. The notes were offered within the United States to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and outside the United States in accordance with Regulation S under the Securities Act. Following these announcements, the company's shares moved 1.91%, and are now trading at a price of $90.70. If you want to know more, read the company's complete 8-K report here.
