Euronet Worldwide, Inc.’s $525.0 Million Convertible Senior Notes Offering


Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Euronet Worldwide, Inc. of an aggregate principal amount of $525.0 million of 0.75% convertible senior notes due 2049, which included $25.0 million aggregate principal amount of convertible senior notes issued pursuant to the exercise in full of the initial purchasers’ over-allotment option. Wells Fargo Securities and BofA Merrill Lynch acted as joint book-running managers in the offering.

Euronet is a leading electronic payments provider, offering payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Their primary product offerings include comprehensive automated teller machine, point-of-sale, card outsourcing, card issuing and merchant acquiring services; software solutions and cloud based payments solutions; electronic distribution of prepaid mobile airtime and other electronic payment products; foreign exchange services and global money transfer services. The company conducts business globally, serving customers in approximately 165 countries.

The Davis Polk capital markets team included partner Michael Kaplan (Picture) and counsel Alain Kuyumjian. The equity derivatives team included partner Mark M. Mendez and associates Joseph Luizzi and Stockton Bullitt. Partner Lucy W. Farr and associate Lex L. Varga provided tax advice.

Involved fees earner: Stockton Bullitt – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Alain Kuyumjian – Davis Polk & Wardwell; Joseph Luizzi – Davis Polk & Wardwell; Mark Mendez – Davis Polk & Wardwell; Lex Varga – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Merrill Lynch; Wells Fargo Securities;

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Author: Ambrogio Visconti