Visa intends to conduct offering of senior notes in three parts

By Devika Patel

Knoxville, Tenn., Sept. 6 – Visa Inc. intends to offer senior notes in three tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be due in 2022, 2027 and 2047.

The 2022 notes feature a make-whole call until one month prior to maturity and then a par call. The 2027 notes feature a make-whole call until three months prior to maturity and then a par call. The 2047 notes feature a make-whole call until six months prior to maturity and then a par call.

Barclays, BofA Merrill Lynch, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. are the bookrunners.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., MUFG, RBC Capital Markets Corp., Standard Chartered Bank, TD Securities (USA) LLC and Wells Fargo Securities LLC are the co-managers.

Proceeds will be used for general corporate purposes, including the repayment or redemption of $1.75 billion of 1.2% notes due Dec. 14, 2017.

San Francisco’s Visa operates a retail electronic payments network.

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