FIS plans to partially repay revolving credit facility debt via notes

By Tali Rackner

Minneapolis, May 14 – Fidelity National Information Services, Inc., or FIS, plans to repay a portion of the roughly $1,275,000,000 outstanding amount under its revolving credit facility with the net proceeds from two new senior note offerings, according to a 424B5 filing with the Securities and Exchange Commission.

The revolver provides $3 billion of total borrowing capacity and matures on Aug. 10, 2021.

As of March 31, the weighted average interest rate on outstanding borrowings, excluding fees, was 2.73%.

In addition, FIS said it intends to call for redemption the entire $750 million principal amount of its 2.85% senior notes due October 2018, with a redemption date of June 15. The company expects to use the revolver borrowings to fund the redemption.

FIS is a financial services technology company based in Jacksonville, Fla.

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