(RTTNews) - First Data announced the pricing of its initial public offering of 160 million shares of its Class A common stock at $16.00 per share. Shares of First Data's Class A common stock are expected to begin trading on the New York Stock Exchange on October 15, 2015 under the symbol "FDC," and the offering is expected to close on October 20, 2015, subject to customary closing conditions.
First Data has granted the underwriters a 30-day option to purchase up to an additional 24 million shares of its Class A common stock at the initial public offering price.
First Data noted that it will receive net proceeds of about $2.5 billion after deducting underwriting discounts and commissions and intends to use the net proceeds from the offering to redeem all $510 million aggregate principal amount of its 11.25% senior unsecured notes due 2021, approximately $1.6 billion aggregate principal amount of its 12.625% senior unsecured notes due 2021, and to pay applicable premiums and related fees and expenses, and for general corporate purposes.
News 
Market Data 
Discover 
