First Data plans to redeem four series of notes via placement proceeds

By Marisa Wong

Madison, Wis., June 19 – First Data Corp. intends to redeem $285 million of its 10 5/8% notes, $275 million of its 11¼% notes, $866 million of its 11¾% notes and $753 million of its 6¾% notes using proceeds from a private placement of common equity, according to an 8-K filing with the Securities and Exchange Commission.

The 10 5/8% notes will be redeemed at 110.625; the 11¼% notes will be redeemed at 111.25; the 11¾% notes will be redeemed at 111.75; and the 6¾% notes will be redeemed at 106.75, in each case plus accrued interest.

The company announced on Thursday that direct parent company First Data Holdings Inc. has received commitments to purchase $3.5 billion of its common equity in a private placement. The transaction is expected to close on July 11.

First Data is a global payment processing company based in Atlanta.

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