MINNEAPOLIS – Deluxe Corporation (NYSE: NYSE:), a company specializing in trusted payments and data, announced its intention to offer $400 million in senior secured notes due in 2029. This private placement targets qualified institutional buyers under Rule 144A of the Securities Act of 1933, as well as non-U.S. persons in compliance with Regulation S under the same act.
The proceeds from this offering, combined with borrowings under new senior secured credit facilities, are earmarked for refinancing existing credit agreements. Specifically, the funds will be used to refinance the company’s term A loan facility and its revolving credit facility, as well as to cover transaction fees and expenses. Deluxe’s plans include a restatement and amendment of its current credit agreement to establish new senior secured credit facilities, consisting of a $400 million revolving credit facility and a $500 million term A loan facility.
The offering is contingent upon the successful closing of the aforementioned credit facilities amendment and restatement. It is important to note that the notes, along with related guarantees, have not been registered under the Securities Act or any state securities laws. Consequently, they cannot be offered or sold within the United States without registration or an applicable exemption from these requirements.
Deluxe, with a history spanning over a century, supports businesses through payment and data solutions, facilitating over $2 trillion in annual payment volume. The company serves a diverse clientele, including small businesses, major financial institutions, and large consumer brands.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the notes or any other securities. There will be no sale of the notes in any jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
The information in this article is based on a press release statement and does not include any speculative or forward-looking statements about Deluxe Corporation’s future performance.
In other recent news, Deluxe Corporation reported its third-quarter earnings for 2024, providing insights into the company’s financial performance and strategic expectations for the future. The earnings call, hosted by Vice President of Strategy and Investor Relations Brian Anderson, and attended by…
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