Global Payments Issues Common Stock & Senior Notes

TL;DR

**Global Payments just raised capital by issuing new stock and senior notes, signaling potential growth or balance sheet moves.**

AI Summary

Global Payments Inc. filed an 8-K on February 21, 2024, reporting an event on February 20, 2024. The filing indicates the issuance of common stock and 4.875% Senior Notes due 2031, suggesting a capital-raising activity. The company, based in Atlanta, Georgia, operates under SIC code 7389 (Business Services, NEC).

Why It Matters

This filing indicates Global Payments is raising capital, which could be used for growth initiatives, debt repayment, or other corporate purposes, potentially impacting its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing reports a capital-raising event without specific details on its use or impact, making it neutral in terms of immediate risk.

Key Numbers

• 4.875% — Interest Rate (Interest rate on Senior Notes due 2031)
• 2031 — Maturity Year (Maturity year for Senior Notes)

Key Players & Entities

• Global Payments Inc. (company) — Registrant
• Georgia (company) — State of incorporation
• Atlanta (company) — City of principal executive offices
• February 20, 2024 (date) — Date of earliest event reported
• February 21, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $1.75 billion — press release announcing the pricing of $1.75 billion aggregate principal amount of its 1.50%
• $250 million — an aggregate principal amount of up to $250 million within a 13-day period beginning on, an

Filing Documents

• tm246044d2_8k.htm (8-K) — 32KB
• tm246044d2_ex99-1.htm (EX-99.1) — 23KB
• tm246044d2_8kimg001.jpg (GRAPHIC) — 5KB
• tm246044d2_ex99-1img001.jpg (GRAPHIC) — 5KB
• 0001104659-24-025742.txt ( ) — 299KB
• gpn-20240220.xsd (EX-101.SCH) — 3KB
• gpn-20240220_def.xml (EX-101.DEF) — 26KB
• gpn-20240220_lab.xml (EX-101.LAB) — 36KB
• gpn-20240220_pre.xml (EX-101.PRE) — 25KB
• tm246044d2_8k_htm.xml (XML) — 5KB

01. Other Events

Item 8.01. Other Events. On February 20, 2024, Global Payments Inc. (the "Company") issued a press release announcing the pricing of $1.75 billion aggregate principal amount of its 1.50% convertible senior notes due 2031 (the "Notes") in a private offering (the "Convertible Senior Notes Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also granted the initial purchasers of the Notes an option to purchase additional Notes in an aggregate principal amount of up to $250 million within a 13-day period beginning on, and including, the date the Company first issues the Notes. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference in its entirety. This Current Report on Form 8-K does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any securities nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description of Exhibit 99.1 Press Release dated February 20, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Forward-Looking Statements Some of the statements used in this Current Report on Form 8-K are not statements of historical or current fact. As such, they are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the completion of the Convertible Senior Notes Offering, the capped call transactions and the anticipated use of proceeds from the offering. The Company has based these forward-looking statements on its current plans and expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Actual events or results might differ materially from those expressed or forecasted in these forward-looking statements. Accordingly, the Company cannot guarantee that its plans and expectations will be achieved. Although it is not possible to create a comprehensive list of all factors and risks that may cause actual results to differ from the results expressed or implied by these forward-looking statements or that may affect the Company's future results, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: the satisfaction of customary closing conditions related to the Convertible Senior Notes Offering and uncertainties and other factors relating to the intended use of proceeds from the Convertible Senior Notes Offering. Although the Company believes that the plans and expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its plans and expectat

Signatures

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GLOBAL PAYMENTS INC. Date: February 21, 2024 By: /s/ David L. Green David L. Green Senior Executive Vice President and Chief Administrative & Legal Officer