Willkie Advises FIS in Approximately US$8.2 Billion (Equivalent) of Senior Notes Offerings

May 14, 2019

Willkie represented FIS, a global leader in financial services technology, in its multi-tranche offerings of senior notes denominated in Euro, Pounds sterling and U.S. dollars.

On May 14, Willkie client FIS (NYSE: FIS), a global leader in financial services technology, announced that it had priced its multi-tranche offerings of senior notes denominated in Euro, Pounds sterling and U.S. dollars in aggregate principal amounts of €5 billion, £1.25 billion and $1 billion, respectively. The joint book-running managers for the offerings are led by Barclays, Citigroup, Goldman Sachs and J.P. Morgan. The offerings are expected to close on May 21, 2019, subject to the satisfaction of customary closing conditions.

FIS intends to use the net proceeds from the offerings, together with commercial paper borrowings, to provide funds for the cash portion of the merger consideration for its pending approximately $42 billion merger with Worldpay, Inc. (NYSE: WP; LSE: WPY), the repayment of outstanding Worldpay debt, and costs and expenses of the merger. Any remaining net proceeds would be used for general corporate purposes.

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, and outsourcing solutions. Through the depth and breadth of its solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries.

The Willkie team for the offerings is led by partners Robert Rachofsky and Benjamin Nixon, with assistance from U.K. partner Jennifer Tait and associates Julian Golay and Peter Melampy.

Willkie is also representing FIS in connection with the pending Worldpay merger, which is expected to close in the third quarter of 2019 subject to approval by FIS shareholders and Worldpay stockholders, and satisfaction of customary closing conditions, including competition and regulatory approvals.