Deluxe Announces Senior Secured Notes Offering
Deluxe (NYSE: DLX) announces plans to offer $400 million in senior secured notes due 2029 through a private placement to qualified institutional buyers. The company will use the proceeds, along with new senior secured credit facilities, to refinance its existing term A loan and revolving credit facilities. The offering is contingent on closing an amendment to provide new facilities including a $400 million revolving credit facility and a $500 million term A loan facility.
Deluxe (NYSE: DLX) annuncia piani per offrire 400 milioni di dollari in note senior garantite con scadenza nel 2029 tramite un collocamento privato a compratori istituzionali qualificati. L'azienda utilizzerà i proventi, insieme a nuove linee di credito senior garantite, per rifinanziare il suo attuale prestito di tipo A e le linee di credito rotative. L'offerta è subordinata alla chiusura di un emendamento per fornire nuove strutture, tra cui una linea di credito rotativa di 400 milioni di dollari e un prestito di tipo A di 500 milioni di dollari.
Deluxe (NYSE: DLX) anuncia planes para ofrecer 400 millones de dólares en notas senior garantizadas con vencimiento en 2029 a través de una colocación privada a compradores institucionales calificados. La compañía utilizará los fondos, junto con nuevas líneas de crédito senior garantizadas, para refinanciar su préstamo a plazo A existente y las líneas de crédito revolventes. La oferta está sujeta al cierre de una enmienda para proporcionar nuevas instalaciones, incluyendo una línea de crédito revolvente de 400 millones de dólares y una instalación de préstamo a plazo A de 500 millones de dólares.
델럭스 (NYSE: DLX)는 2029년에 만기가 도래하는 4억 달러의 선순위 담보 노트를 자격이 갖춰진 기관 투자자에게 사모로 제공할 계획을 발표했습니다. 이 회사는 기존의 A형 대출과 회전 신용 시설을 재정리하기 위해 새로운 선순위 담보 신용 시설과 함께 수익금 을 사용할 것입니다. 이 제공은 4억 달러 회전 신용 시설과 5억 달러 A형 대출 시설을 포함하는 새로운 시설을 제공하기 위한 수정안의 종료에 달려 있습니다.
Deluxe (NYSE: DLX) annonce des plans pour proposer 400 millions de dollars en obligations sécurisées senior arrivant à échéance en 2029 à travers un placement privé destiné à des acheteurs institutionnels qualifiés. La société utilisera les produits, avec de nouvelles facilités de crédit senior sécurisées, pour refinancer son prêt de type A existant et ses facilités de crédit revolver. L'offre est conditionnée à la conclusion d'un amendement visant à fournir de nouvelles facilités, y compris une facilité de crédit revolver de 400 millions de dollars et une facilité de prêt de type A de 500 millions de dollars.
Deluxe (NYSE: DLX) kündigt Pläne an, 400 Millionen Dollar in nachrangigen besicherten Anleihen mit Fälligkeit im Jahr 2029 über eine Privatplatzierung an qualifizierte institutionelle Käufer anzubieten. Das Unternehmen wird die Erlöse zusammen mit neuen nachrangigen besicherten Kreditfazilitäten verwenden, um seinen bestehenden Terminkredit A und die revolvierenden Kreditfazilitäten neu zu finanzieren. Das Angebot steht unter dem Vorbehalt des Abschlusses einer Änderung zur Bereitstellung neuer Fazilitäten, einschließlich einer 400 Millionen Dollar revolvierenden Kreditfazilität und einer 500 Millionen Dollar Terminkreditfazilität A.
- Securing $400 million in new financing through senior secured notes
- Establishing new credit facilities worth $900 million total ($400M revolving + $500M term loan)
- Taking on substantial new debt obligations
- Refinancing existing debt facilities indicates potential liquidity management needs
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The Company intends to use the net proceeds from the Notes offering, together with borrowings under the Company’s new senior secured credit facilities, to (i) refinance its term A loan facility (the “Existing Term A Loan Facility”) and its revolving credit facility (the “Existing Revolving Credit Facility”) and (ii) pay transaction fees and expenses. The offering of the Notes is conditioned on the closing of an amendment and restatement of the Company's existing credit agreement governing the Existing Term A Loan Facility and the Existing Revolving Credit Facility to provide for new senior secured credit facilities consisting of a revolving credit facility in an aggregate committed amount of
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor will there be any sale of the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes and related note guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction’s securities laws and may not be offered or sold in
About Deluxe
Deluxe, a Trusted Payments and Data company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release concerning the Company, the Company’s or management’s intentions, expectations, outlook or predictions about future results or events are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current intentions or beliefs and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: changes in local, regional, national and international economic or political conditions, including those resulting from heightened inflation, rising interest rates, a recession, or intensified international hostilities, and the impact they may have on the Company, its data, customers, or demand for the Company’s products and services; the effect of proposed and enacted legislative and regulatory actions affecting the Company or the financial services industry as a whole; continuing cost increases and/or declines in the availability of data, materials and other services; the Company’s ability to execute its transformational strategy and to realize the intended benefits; the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company’s control; declining demand for the Company’s checks, check-related products and services and business forms; risks that the Company’s strategies intended to drive sustained revenue and earnings growth, despite the continuing decline in checks and forms, are delayed or unsuccessful; intense competition; continued consolidation of financial institutions and/or bank failures, thereby reducing the number of potential customers and referral sources and increasing downward pressure on the Company’s revenue and gross profit; risks related to acquisitions, including integration-related risks and risks that future acquisitions will not be consummated; risks that any such acquisitions do not produce the anticipated results or synergies; risks that the Company’s cost reduction initiatives will be delayed or unsuccessful; risks related to any divestitures contemplated or undertaken by the Company; performance shortfalls by one or more of the Company’s major suppliers, licensors, data or service providers; continuing supply chain and labor supply issues; unanticipated delays, costs and expenses in the development and marketing of products and services, including financial technology and treasury management solutions; the failure of such products and services to deliver the expected revenues and other financial targets; risks related to security breaches, computer malware or other cyber-attacks; risks of interruptions to the Company’s website operations or information technology systems; and risks of unfavorable outcomes and the costs to defend litigation and other disputes. The Company’s forward-looking statements speak only as of the time made, and management assumes no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company’s current expectations are contained in the Company’s Form 10-K for the year ended December 31, 2023 and in the Company’s Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241118029255/en/
Brian Anderson, VP, Strategy & Investor Relations
651-447-4197
brian.anderson@deluxe.com
Keith Negrin, VP, Communications
612-669-1459
keith.negrin@deluxe.com
Source: Deluxe Corporation
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