New Issue: ACI Worldwide prices $300 million seven-year notes to yield 6 3/8%

By Paul A. Harris

Portland, Ore., Aug. 15 - ACI Worldwide, Inc. priced a $300 million issue of seven-year senior notes (B2/BB-/) at par to yield 6 3/8% on Thursday, according to a syndicate source.

The yield printed in the middle of the 6 ¼% to 6 ½% yield talk.

Wells Fargo Securities LLC was the left bookrunner. BofA Merrill Lynch was the joint bookrunner.

The Naples, Fla.-based provider of payment systems plans to use the proceeds to repay its credit facility and for general corporate purposes.

Issuer:	ACI Worldwide, Inc.
Amount:	$300 million
Maturity:	Aug. 15, 2020
Securities:	Senior notes
Left bookrunner:	Wells Fargo Securities LLC
Joint bookrunner:	BofA Merrill Lynch
Co-managers:	Fifth Third Securities Inc., HSBC Securities (USA) Inc., PNC Capital Markets LLC, RBS Securities Inc., Regions Securities LLC, Santander Investment Securities Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc.
Coupon:	6 3/8%
Price:	Par
Yield:	6 3/8%
Spread:	421 bps
Call features:	Make-whole call at Treasuries plus 50 bps until Aug. 15, 2016, then callable at 103.188, 101.594, par on and after Aug. 1, 2018
Equity clawback:	35% at 106.375 until Aug. 15, 2016
Trade date:	Aug. 15
Settlement date:	Aug. 20
Ratings:	Moody's B2
	Standard & Poor's BB-
Distribution:	Rule 144A and Regulation S for life
Price talk:	6 ¼% to 6 ½%
Marketing:	Roadshow

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