FIS announces results of capped tender offers for four series

By Taylor Fox

New York, March 9 – Fidelity National Information Services, Inc. (FIS) announced the early tender results and an increase of its capped tender offer for four series of notes, according to a news release.

FIS increased the tender cap to $566,958,000 from $500 million.

The early tender amounts of the notes, listed by acceptance priority level, are as follows:

• $170.93 million tendered and accepted of $400 million of 4.25% senior notes due May 15, 2028 (Cusip: 31620MAY2) to be repurchased at a price calculated using the 1.125% U.S. Treasury due Feb. 15, 2031 plus a fixed spread of 25 bps;

• $396,028,000 tendered and accepted of $1 billion of 3.75% senior notes due May 21, 2029 (Cusip: 31620MBJ4) to be repurchased at a price based on the 1.125% U.S. Treasury due Feb. 15, 2031 plus a fixed spread of 45 bps;

• $44,456,000 tendered and no amount accepted of $324,021,000 of 4.5% senior notes due Oct. 15, 2046 (Cusip: 31620MAU0) which were going to be repurchased at a price based on the 1.625% U.S. Treasury due Nov. 15, 2050 plus a fixed spread of 95 bps; and

• €857,652,000 tendered and no amount accepted of €1.25 million of 1.5% senior notes due May 21, 2027 (ISIN: 1843436228) which were going to be repurchased at a price based on the February 2027 interpolated rate plus a fixed spread of 40 bps.

Pricing will be determined at 10 a.m. ET on March 9.

As previously reported, the consideration under the capped offer will also include a $50 or €50 early tender payment per $1,000 or €1,000 of notes tendered by the early tender deadline at 5 p.m. ET March 8.

All maximum tender offer notes tendered prior to or at the early tender date will be accepted based on the acceptance priority levels and will have priority over maximum tender offer notes tendered after the early tender date, regardless of the acceptance priority levels of the maximum tender offer notes tendered after the early tender date.

Settlement of early tendered notes under the capped offer will be on March 10.

The capped tender offer will technically expire at 11:59 p.m. ET on March 22, however no more notes will be accepted for purchase as the cap has been exceeded in the offer.

Final settlement of the capped offers was expected to occur on March 24.

J.P. Morgan Securities LLC (866 834-4666, 212 834-3424), J.P. Morgan Securities plc (+44 20 7134 2468; liability_management_EMEA@jpmorgan.com) and Goldman Sachs & Co. LLC (212 357-1452, 800 828-3182; gs-lm-nyc@gs.com) are the joint dealer managers, and Barclays, Barclays Bank plc and Citigroup Global Markets Inc. are the co-dealer managers.

D.F. King (212 232-3233 for banks and brokers only or 800 549-6864 for all others, +44 20 7920 9700 in London, fis@dfking.com or at www.dfking.com/fis) is the tender and information agent.

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

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