The company said it priced $1.75 billion of 1.50% convertible senior notes due 2031 on February 20, 2024. It also granted the initial purchasers an option to buy up to an additional $250 million within 13 days.

1. 01

   The company said it priced $1.75 billion of 1.50% convertible senior notes due 2031 on February 20, 2024. It also granted the initial purchasers an option to buy up to an additional $250 million within 13 days.

2. 02

   Global Payments said the initial conversion price is about $156.96 per share, a premium of about 20% to the $130.80 closing price on February 20, 2024. The notes mature on March 1, 2031 and cannot be redeemed before March 6, 2028.

3. 03

   The company estimates net proceeds from the offering at about $1.72 billion, or about $1.96 billion if the initial purchasers exercise their option in full, after deducting initial purchasers' discounts and offering expenses. It plans to use $222.25 million of the proceeds to pay the cost of the capped call transactions.

4. 04

   The company said it plans to use about $185.1 million of the net proceeds to repurchase its shares from purchasers of the notes at $130.80 per share. It said it intends to use the remainder to repay borrowings under its commercial paper program and revolving credit agreement, and for general corporate purposes.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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