Shift4 Payments (FOUR) said Thursday its subsidiaries, Shift4 and Shift4 Payments Finance Sub, proposed a private offering of $550 million in 6.750% senior notes due 2032.
The new notes will be issued as additional debt under the same indenture as $1.1 billion in senior notes issued in August 2024 and are intended to form a single class with those existing notes. This offering is in addition to the subsidiaries' previously proposed 680 million euros offering of euro-denominated senior notes.
Shift4 plans to use proceeds from both offerings, along with a new term loan and proceeds from a separate preferred stock issuance, to help fund its acquisition of Global Blue Group, pay related fees and expenses, redeem or repay its 4.625% senior notes due 2026, and for general corporate purposes.
The company said repayment of the 2026 notes is not a condition of the offering and any redemption will be announced separately.
Shares of Shift4 Payments rose 2.8% in recent trading.
Price: 85.61, Change: +2.35, Percent Change: +2.82
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