Global Payments Expands Financing Capacity to $2.25 Billion to Support
ATLANTA, March 3, 2014
ATLANTA, March 3, 2014 /PRNewswire/ --Global Payments Inc. (NYSE: GPN), one
of the largest worldwide providers of payment solutions, announced today the
closing of a five-year senior unsecured $1.25 billion term loan facility and
$1 billion revolving credit facility arranged by Bank of America, N.A.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Fifth Third Securities,
Inc., PNC Capital Markets LLC, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and TD
Securities (USA) LLC.
The proceeds from the term loan will be used to repay the outstanding balance
of the existing revolver and to repay the outstanding balance of approximately
$600 million on Global Payments' existing term loan. The company intends to
use the remaining capacity to support strategic growth initiatives, including
acquisitions and ongoing share repurchases.
Global Payments' Senior Executive Vice President and Chief Financial Officer,
David E. Mangum, said, "We are delighted to complete the refinancing and
expansion of our existing term loan and revolver under improved terms. This
allows us to take advantage of lower rates, and we now have over $1.3 billion
of available debt capacity to pursue our growth and capital deployment
About Global Payments
Global Payments Inc. is one of the largest worldwide providers of payment
solutions for merchants, value added resellers, financial institutions,
government agencies, multi-national corporations and independent sales
organizations located throughout North America, South America, Europe and the
Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a
comprehensive line of solutions and services for credit and debit cards,
business-to-business purchasing cards, gift cards, electronic check conversion
and check guarantee, verification and recovery including electronic check
services, as well as terminal management. Visit www.globalpaymentsinc.com for
more information about the company and its services.
This announcement and comments made by Global Payments' management may contain
certain forward-looking statements within the meaning of the "safe-harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Statements that are not historical facts, including revenue and earnings
estimates and management's expectations regarding future events and
developments, are forward-looking statements and are subject to significant
risks and uncertainties. Important factors that may cause actual events or
results to differ materially from those anticipated by such forward-looking
statements include the following: the effect on our results of operations of
continued security enhancements to our processing system; foreign currency
risks which become increasingly relevant as we expand internationally; the
effect of current domestic and worldwide economic conditions, future
performance and integration of acquisitions, and other risks detailed in our
SEC filings, including the most recently filed Form 10-K. We undertake no
obligation to revise any of these statements to reflect future circumstances
or the occurrence of unanticipated events.
SOURCE Global Payments Inc.
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