Paysafe selling $1.03 billion equivalent eight-year secured notes in dollar and euro tranches

By Paul A. Harris

Portland, Ore., June 7 – Paysafe Ltd. started a roadshow on Monday for a $1.026 billion equivalent two-part offering of eight-year senior secured notes (existing ratings B1/B+), according to market sources.

The deal features dollar-denominated notes in the market with initial guidance in the low 4% area and euro-denominated notes with initial guidance in the low 3% area.

Pricing is expected during the June 7 week.

JPMorgan is leading the Rule 144A and Regulation S offering.

The notes in both tranches come with three years of call protection.

The issuing entities will be Paysafe Holdings (US) Corp. and Paysafe Finance plc, indirect subsidiaries of Paysafe.

The London-based provider of payment solutions plans to use the proceeds plus proceeds from new dollar- and euro-denominated term loans to refinance certain debt.

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