Global Payments Prices Offering Of $1.75B 1.50% Convertible Senior Notes Due 2031
Portfolio Pulse from Benzinga Newsdesk
Global Payments has announced the pricing of its offering of $1.75 billion 1.50% convertible senior notes due 2031, with an option for initial purchasers to buy an additional $250 million within a 13-day period. The offering is set to close on February 23, 2024, pending customary closing conditions.
February 21, 2024 | 7:08 am
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NEUTRAL IMPACT
Global Payments' announcement of a $1.75 billion convertible senior notes offering could impact its stock by increasing debt but also potentially financing growth.
The issuance of convertible senior notes increases Global Payments' debt, which could be seen negatively by investors concerned about higher leverage. However, the capital raised could be used for growth initiatives, which might be viewed positively. The net impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90