One Reason First Data (FDC) Stock is Rising Today

First Data (FDC) announced an offering of $1.5 billion of senior secured notes and the pricing of $3.2 billion senior secured notes.
By Amanda Schiavo ,

NEW YORK (TheStreet) -- Shares of First Data Corp.  (FDC) - Get Report are rising by 4.29% to $17.01 in midday trading on Friday, after the payments solutions company announced an offering of $1.5 billion of senior secured notes and the pricing of $3.2 billion senior secured notes.

The company intends to offer $750 million aggregate principal amount of senior secured first lien notes due 2024 and $750 million aggregate principal amount of senior secured second lien notes due 2024.

First Data has also priced an offering of $1 billion aggregate principal amount of 5.000% senior secured first lien notes due 2024 and $2.2 billion aggregate principal amount of 5.750% senior secured second lien notes due 2024.

The offering is expected to close on November 25.

First Data is a New York City-based provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers.

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