Simpson Thacher represented First Data Corporation (“First Data”) in connection with its Rule 144A and Regulation S offering of $785 million aggregate principal amount of 11.25% Senior Notes due 2021. Simpson Thacher also represented First Data in connection with its borrowing of $258 million in aggregate principal amount of incremental term loans due 2018.
First Data used the net proceeds from the notes offering to fund the cash tender offer for all of its outstanding $748.4 million 10.55% PIK Senior Unsecured Notes due 2015. First Data used the net proceeds of the incremental term loans to repay the remaining outstanding principal amount of its term loans due 2014.
First Data is a portfolio company of KKR and one of the largest global technology and payments processors, providing electronic commerce and payment solutions for merchants, financial institutions and card issuers worldwide.
The Simpson Thacher team for these transactions included Richard Fenyes, David Azarkh and Nicole Tague (Capital Markets), James Cross, Dan Kay and Misan Ikomi (Banking and Credit) and Steve Todrys, Jonathan Cantor and Andrew Purcell (Tax).
