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First Data begins tender offer for $748.43 million 10.55% PIK notes
By Susanna Moon
Chicago, Jan. 30 - First Data Corp. said it began a cash tender offer for its $748,427,723 of outstanding 10.55% pay-in-kind senior notes due 2015.
The company is offering to pay a total purchase price of $1,029.02 for each $1,000 principal amount of notes tendered by the early offer deadline at 5 p.m. ET on Feb. 12.
Those who tender after the early deadline will receive $996.38 per $1,000 of notes, which is the total payment less the early tender payment of $32.64 per $1,000 of notes.
The tender offer will end at midnight ET on Feb. 27.
Holders also will receive accrued interest to but excluding the settlement date.
Tendered notes may be withdrawn by the early tender deadline.
First Data said it expects to settle early tendered notes on Feb. 13 and the remaining tenders on Feb. 28.
Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager. Global Bondholder Services Corp. (866 470-3800 or 212 430-3774) is the depositary and the information agent.
The tender offer is not conditioned on the tender of a minimum principal amount of notes, and First Data is not soliciting consents from holders in connection with the tender offer, according to a company press release.
First Data is an Atlanta-based electronic commerce and payment processing company.
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