Fair Isaac Corporation (NYSE: FICO) has announced its intention to offer $1.0 billion in aggregate principal amount of senior notes due 2034 in a private offering. The company plans to use the net proceeds from this offering to repay certain outstanding indebtedness, fund the redemption of $400 million aggregate principal amount of the 5.25% senior notes due 2026 issued in 2018, pay related fees and expenses, and for general corporate purposes, potentially including repurchases of common stock.
FICO has also stated its conditional notice of intent to redeem the 2018 senior notes on March 26, 2026, subject to the successful issuance of the new notes on terms and in an aggregate principal amount satisfactory to the company.
The notes will be offered and sold to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act.
It's important to note that the notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
In terms of forward-looking information, aside from historical information, the statements contained in the news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Following these announcements, the company's shares moved -0.89%, and are now trading at a price of $1567.19. For more information, read the company's full 8-K submission here.
