By Paul A. Harris
Portland, Ore., Oct. 15 – Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc. priced a $450 million issue of six-year notes (B2/B) at par to yield 4 5/8% on Thursday, according to market sources.
The yield printed at the tight end of yield talk in the 4¾% area and tighter than initial guidance in the low 5% area.
Credit Suisse Securities (USA) LLC was the left lead bookrunner. Goldman Sachs & Co. LLC was the joint bookrunner.
The Allentown, Pa., independent provider of integrated payment processing and technology solutions plans to use the proceeds, together with cash on hand, to pay off its first-lien term loan, with the remainder, if any, to be used for general corporate purposes.
| Issuers: | Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc.
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| Amount: | $450 million
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| Maturity: | Nov. 1, 2026
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| Securities: | Notes
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| Left lead bookrunner: | Credit Suisse Securities (USA) LLC
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| Joint bookrunner: | Goldman Sachs & Co. LLC
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| Coupon: | 4 5/8%
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| Price: | Par
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| Yield: | 4 5/8%
|
| Spread: | 420 bps
|
| First call: | Nov. 1, 2022 at 102.313
|
| Trade date: | Oct. 15
|
| Settlement date: | Oct. 29
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| Ratings: | Moody's: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4¾% area
|
| Marketing: | Roadshow
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