Shift4 greenshoe lifts 0% convertibles to $690 million

By Taylor Fox

New York, Dec. 7 – Underwriters for Shift4 Payments, Inc.’s 0% five-year convertible notes fully exercised their $90 million greenshoe, increasing the total deal size to $690 million, according to a news release.

The company priced an upsized $690 million of the notes after the market close on Monday.

The Notes will be senior, unsecured obligations of Shift4 and will not bear regular interest, and the principal amount of the Notes will not accrete.

The initial size of the offering was $600 million with a greenshoe of $90 million.

The notes will mature on Dec. 15, 2025, unless earlier repurchased, redeemed or converted.

Net proceeds will be used for general corporate purposes.

Shift4 Payments is an Allentown, Pa.-based integrated payment processing company.

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