Global Payments readies four-part sale of senior notes for EVO buy

Chicago, Aug. 8 – Global Payments Inc. entered the Monday high-grade bond market with a proposed four-part offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

There is a special mandatory redemption at 101 if the acquisition of EVO Payments Inc. is not completed by Nov. 1, 2023.

Any change of control would trigger a put option at 101.

All four of the notes will have make-whole call and then par calls a number of months before their maturity dates.

BofA Securities, Inc. and J.P. Morgan Securities LLC are the bookrunners.

U.S. Bank Trust Co., NA is the trustee.

The company is using in-house counsel and Wachtell, Lipton, Rosen & Katz. Counsel to the underwriters is provided by Gibson, Dunn & Crutcher LLP.

Proceeds will be used to refinance certain outstanding debt (including to refinance borrowings under a proposed new revolver), to make cash payments relating to the acquisition of EVO and to refinance certain outstanding debt of EVO in connection with the acquisition. Proceeds will also be used to pay transaction fees and expenses related to the acquisition and for general corporate purposes.

Global Payments entered into a commitment letter with Bank of America, NA, BofA Securities, Inc. and JPMorgan Chase Bank, NA for a 364-day senior unsecured bridge loan facility in an aggregate principal amount of up to $4.325 billion.

Global Payments is an Atlanta-based payments technology company. EVO is an Atlanta-based payment technology and services provider.

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