Fireserv Inc (FISV)

[cintrix]

First Data to Raise Up to $3.2B in IPO
Published October 01, 2015Reuters


Credit card processor First Data said it plans to raise up to $3.2 billion from its initial public offering and will use the proceeds to cut down debt.

The company was taken private in 2007 by KKR & Co LP for about $29 billion in one of the biggest leveraged buyouts before the financial crisis.

Atlanta-based First Data expects its IPO to price between $18 and $20 per class A share, valuing the company at about $17.58 billion at the upper end of the range.

The company plans to use proceeds from the IPO to reduce its $21.03 billion debt pile.

Citigroup, Morgan Stanley, BofA Merrill Lynch and KKR are the offering's joint bookrunning managers.

(Reporting by Richa Naidu and Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza and Shounak Dasgupta)
http://www.foxbusiness.com/industries/2015/10/01/first-data-to-raise-up-to-32b-in-ipo/