Shift4 Payments’ $632.5 Million Convertible Senior Notes Offering

Simpson Thacher advised the initial purchasers on the deal.

Shift4 Payments, Inc. has completed its offering of $632.5 million aggregate principal amount of 0.5% Convertible Senior Notes due 2027. The net proceeds from the offering will be used for general corporate purposes, which may include acquisitions or investments. The offering of the Convertible Senior Notes was upsized from the originally announced size of $500 million.The initial purchasers were led led by Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc.

Shift4 Payments is a leading independent provider of integrated payment processing and technology solutions, delivering a complete ecosystem of solutions that extend beyond payments to include a wide range of value-added services. The company’s technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, e-commerce, lodging, gaming and many more. With over 7,000 sales partners, the company securely processed more than 3.5 billion transactions annually for over 200,000 businesses in 2019.

The Simpson Thacher team for this transaction included Richard Fenyes (Picture), Lia Toback, Ben Heriaud, Tommy Garber and Rachel Lerman (Capital Markets); Andrew Purcell and Jasmine Hay (Tax); Tristan Brown (Executive Compensation and Employee Benefits); Andrew Pagliughi (FINRA & Blue Sky); Mike Isby (Environmental); Adam Cohen and Spencer Sloan (Financial Institutions); and Melanie Jolson (IP).

Involved fees earner: Rachel Lerman – Cahill Gordon & Reindel; Tristan Brown – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Thomas Garber – Simpson Thacher & Bartlett; Jasmine Hay – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Andrew Pagliuchi – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Lia Toback – Simpson Thacher & Bartlett;

Law Firms: Cahill Gordon & Reindel; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Evercore Inc.; Goldman Sachs & Co.; Morgan Stanley; Nomura Securities International Inc.; Raymond James & Associates, Inc.; RBC Capital Markets;

Author: Martina Bellini