WorldPay upsizes seven-year notes offering to €500 million, talk remains 3¾%-4%; pricing Thursday

By Paul A. Harris

Portland, Ore., Nov. 5 – WorldPay Group plc upsized its offering of seven-year senior bullet notes (Ba2/BB) to €500 million from €400 million, according to a market source.

Price talk remains unchanged at 3¾% to 4%.

The deal is set to price Thursday.

Global coordinator Barclays will bill and deliver for the Rule 144A and Regulation S offering. BofA Merrill Lynch, Credit Agricole CIB and Credit Suisse are also global coordinators. BOC, Goldman Sachs & Co., Lloyds Securities Inc., Medio, Mizuho Securities, RBC Capital Markets Corp., RBS Securities Inc., UBS Securities LLC and UniCredit are joint bookrunners.

The notes feature a make-whole call at Bunds plus 50 basis points but are otherwise non-callable.

The notes will be issued by subsidiary WorldPay Finance plc.

The London-based international payments processing company, plans to use the proceeds of the note offering, together with cash on hand, to fund the partial prepayment of the £600 million bullet term facility provided under a senior facilities agreement that the company entered into on Sept. 4.

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