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Western Union plans credit facilities and/or public or private debt for spin-off
By Sara Rosenberg
New York, June 8 - Western Union Corp. plans on using credit facilities, publicly or privately issued debt or a combination thereof to help fund its spin-off from First Data Corp., according to a 10-12B filed with the Securities and Exchange Commission Thursday.
As part of the spin-off, Western Union will be transferring to First Data up to $3.6 billion in cash or a combination of cash and debt securities. The debt transactions being contemplated would fund the cash portion of that amount.
Completion of the spin-off is aimed for the fourth quarter.
Western Union is an Englewood, Colo.-based money transfer network.
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