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First Data launches IPO
First Data today announced the launch of its initial public offering of 160,000,000 shares of its Class A common stock.
First Data intends to use the net proceeds from the offering to redeem all $510 million aggregate principal amount of its 11.25% senior unsecured notes due 2021, approximately $2.0 billion aggregate principal amount of its 12.625% senior unsecured notes due 2021, and to pay applicable premiums and related fees and expenses, and for general corporate purposes.
Citigroup, Morgan Stanley, BofA Merrill Lynch and KKR are acting as joint bookrunning managers of the offering and the representatives of the underwriters. Barclays, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, Mizuho Securities, PNC Capital Markets LLC, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as bookrunners of the offering, and Allen & Company LLC, BBVA and Cowen and Company are acting as co-managers of the offering.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective, and, even then, the securities may only be sold pursuant to the registration statement and final prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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