backNEW YORK, April 5, 2016 — King & Spalding advised credit card processor Total System Services, Inc., on the sale of $1.5 billion in senior notes to underwriters represented by J.P. Morgan Securities and Merrill Lynch, Pierce, Fenner & Smith, Inc.
The notes were issued in one tranche of $750 million of 3.8 percent senior notes due 2021 and another tranche of $750 million of 4.8 percent senior notes due 2026, in a transaction announced March 17. Total System Services intends to use the net proceeds to pay a portion of the approximate $2.35 billion purchase price of the company’s acquisition of TransFirst Holdings Corp.
The King & Spalding team on this deal included partner Keith Townsend, senior associate Zach Cochran and associates Nick Brown, Zack Davis and Scott Edwards. Partner John Sweet assisted on tax matters.
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