Shift4 Payments, Inc. has successfully completed an offering of €680 million of senior notes due 2033 and a tack-on offering of $550 million of senior notes due 2032. The notes are guaranteed on a senior unsecured basis by certain subsidiaries of Shift4 Payments, Inc.
The net proceeds from the offering of the notes, a new secured term loan B credit facility, and the issuance and sale of mandatory convertible preferred stock, along with cash on hand, will be utilized for various purposes. These purposes include 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 such as repayment of debt, strategic acquisitions, and growth initiatives.
The completion of the offering is not contingent on the redemption or repayment of the 2026 notes, although the issuers expect to do so after the offering. The notes were offered in a private offering exempt from the registration requirements of the Securities Act of 1933, and were offered to qualified institutional buyers in the United States and outside the United States in accordance with regulation S under the Securities Act.
The offering of the notes represents a significant financial move for Shift4 Payments, Inc., with the company strategically utilizing the proceeds for potential acquisitions and growth initiatives. Today the company's shares have moved 1.91% to a price of $90.70. Check out the company's full 8-K submission here.
