The Firm recently represented First Data Corporation in private exchange offers, in which the Company exchanged $6.0 billion aggregate principal amount of its 9.875% Senior Notes due 2015 and 10.550% Senior PIK Notes due 2015, for $6.0 billion aggregate principal amount of new securities, consisting of (i) 50% in new 8.25% Senior Second Lien Notes due 2021 or, at the election of each holder who tendered prior to the early tender date and subject to certain limitations, in up to $1.0 billion aggregate principal amount of new 8.75/10.00% PIK Toggle Senior Second Lien Notes due 2022, and (ii) 50% in new 12.625% Senior Notes due 2021.
First Data is a one of the largest global technology and payments processors, providing electronic commerce and payment solutions for merchants, financial institutions and card issuers worldwide. First Data is controlled by private equity funds controlled by KKR
The Simpson Thacher team for these transactions included John Lobrano, Richard Fenyes, Mark Brod, Ariana Cooper and Gibbs Fryer (Capital Markets), James Cross, Erik Hepler and Christopher Bell (Credit), Steve Todrys, Jonathan Cantor and Jennifer Klein (Tax), Parijat Sharma (Intellectual Property) and Mardi Merjian (Real Estate). Paralegal Christine Lawton provided valuable assistance.
