First Data’s Accounts Receivable Securitization Program

Simpson Thacher represented First Data Corporation and First Data Receivables, LLC in connection with amendments to First Data Receivables’ Accounts Receivable Securitization Program (the Securitization) that, among other things, extended the scheduled termination of the Securitization from June 30, 2020 to July 31, 2021.

First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and over 4,000 financial institutions in more than 100 countries around the world. First Data has 22,000 owner-associates and processes more than 3,000 transactions per second and $2.4 trillion in transaction volume per year.

The Simpson Thacher team included James Cross (Picture), Michael Vernace and Susan Wang (Banking and Credit).

Involved fees earner: James Cross – Simpson Thacher & Bartlett; Michael Vernace – Simpson Thacher & Bartlett; Susan Wang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: First Data Corporation;

Author: Ambrogio Visconti