Published on 5/15/2018 in the Prospect News Investment Grade Daily.
New Issue: Fidelity National Information details $1 billion of notes in two parts
By Devika Patel
Knoxville, Tenn., May 15 – Fidelity National Information Services, Inc. offered further details about a $1 billion sale of senior notes (Baa2/BBB/BBB) that priced in two tranches on Monday, according to an FWP filed with the Securities and Exchange Commission.
The company sold $400 million of 4.25% 10-year notes at a spread of 130 basis points over Treasuries. The notes priced on the tight side of guidance that was in the Treasuries plus 135 bps area. These notes priced at 99.654 to yield 4.293%.
Fidelity National Information sold $600 million of 4.75% 30-year notes at a 175 bps over Treasuries spread. The notes were guided to price in the Treasuries plus 180 bps area. These notes priced at 99.963 to yield 4.88%.
BofA Merrill Lynch, MUFG, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the active bookrunners. Citigroup Global Markets Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC were passive bookrunners.
Proceeds will be used to repay a portion of the $1,275,000,000 outstanding under the company’s $3 billion revolving credit facility.
The financial services technology company is based in Jacksonville, Fla.
| Issuer: | Fidelity National Information Services, Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, MUFG, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (active); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC (passive)
|
| Co-managers: | Barclays, Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., Lloyds Securities Inc., SunTrust Robinson Humphrey Inc. and SMBC Nikko Securities America, Inc.
|
| Trade date: | May 14
|
| Settlement date: | May 16
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| 10-year notes
|
| Amount: | $400 million
|
| Maturity: | May 15, 2028
|
| Coupon: | 4.25%
|
| Price: | 99.654
|
| Yield: | 4.293%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Make-whole call at Treasuries plus 20 bps until Feb. 15, 2028, then a par call
|
| Price guidance: | Treasuries plus 135 bps area
|
|
|
| 30-year notes
|
| Amount: | $600 million
|
| Maturity: | May 15, 2048
|
| Coupon: | 4.75%
|
| Price: | 99.963
|
| Yield: | 4.88%
|
| Spread: | Treasuries plus 175 bps
|
| Call: | Make-whole call at Treasuries plus 30 bps until Nov. 15, 2047, then a par call
|
| Price guidance: | Treasuries plus 180 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
