Summary
Global Payments Inc. (GPN) announced on May 8, 2020, that it entered into an Underwriting Agreement to sell $1 billion in aggregate principal amount of 2.900% Senior Notes due 2030. This public offering is expected to close on May 15, 2020. The agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC, acting as representatives for the underwriters, includes standard terms such as representations, warranties, conditions to closing, indemnification, and termination provisions. This financing activity indicates the company's intent to raise substantial capital. Investors should note that the notes are registered under the Securities Act of 1933, and the details of the underwriting agreement are further detailed in exhibits filed with the SEC. The primary purpose of this filing is to report this material definitive agreement related to the issuance of new debt.
Key Highlights
- 1Global Payments Inc. (GPN) is issuing $1 billion in 2.900% Senior Notes due 2030.
- 2The offering is structured as a public offering.
- 3The Underwriting Agreement was entered into on May 7, 2020.
- 4The expected closing date for the offering is May 15, 2020.
- 5Key underwriters include BofA Securities, Inc. and J.P. Morgan Securities LLC.
- 6The Underwriting Agreement contains customary legal provisions for such transactions.
- 7The Senior Notes are registered under the Securities Act of 1933.