JACKSONVILLE, Fla.--(EON: Enhanced Online News)--FIS™, (NYSE: FIS), a global leader in financial services technology, today announced that it has issued a notice to redeem 100% of the outstanding aggregate principal amount of its $700 million 5.000% Senior Notes due 2022 (the “Notes”) on March 15, 2017.
Pursuant to the terms of the Notes, all the outstanding principal amount of the Notes will be redeemed at a redemption price equal to 102.5% of the principal amount thereof, plus accrued and unpaid interest thereon (if any), to, but not including March 15, 2017.
As previously disclosed, the proceeds received from the sale of the public sector and education business will be used to reduce the company’s overall outstanding indebtedness. This redemption allows FIS to accelerate deleveraging efforts and reduce interest costs. FIS continues to be committed to maintaining a strong balance sheet and its investment grade credit ratings.
Additional information regarding the redemption is available from The Bank of New York Mellon Trust Company, N.A.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future events and are not statements of fact, actual results may differ materially from those projected. FIS undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the risk that FIS is unable to continue deleveraging or to maintain a strong balance sheet or an investment grade rating due to circumstances beyond its control and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of FIS’ Form 10-K for the year ended December 31, 2015 and Form 10-Q for the quarter ended September 30, 2016 and other filings with the SEC.