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Fidelity National Repurchasing $2.5 Billion of Senior Notes Through Upsized Tender Offer
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Fidelity National Repurchasing $2.5 Billion of Senior Notes Through Upsized Tender Offer
Mar 5, 2024 9:00 AM

11:35 AM EST, 03/05/2024 (MT Newswires) -- Fidelity National Information Services ( FIS ) on Tuesday said investors tendered a total of nearly $2.46 billion in face value of its senior notes by Monday's deadline, with the financial technologies company opting to increase the amount of available funding by about 12.5% in order to redeem all seven series of those notes in full.

Overall, Fidelity National will redeem just under $1.5 billion in combined face value of five series of its senior notes maturing between 2025 to 2052 plus another two series of notes worth a combined 754.8 million British pounds ($960.2 million) coming due in 2029 or 2031. To fully redeem all of the notes tendered, the company provided an extra $281 million above its original offer to redeem $2.25 billion of its notes, it said.

Fidelity National late last month began the tender offer for 14 series of US dollar-, UK pound- or euro-denominated notes ranked by priority. The company is expecting to settle the note repurchases on Friday, it said, adding investors did not tender a sufficient amount from the other seven series of notes to satisfy terms of the company's buyback offer.

Fidelity National shares were trending higher Tuesday morning, recently climbing nearly 1%.

Price: 69.96, Change: +0.51, Percent Change: +0.73

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