First Data announced on Thursday that its parent has received commitments to purchase about $3.5 billion of equity in a private placement, led by KKR. The proceeds will be used to repay portions of the company’s debt.<\/p>\n
The private placement includes $1.5 billion from existing investors and $2 billion from new investors, including pension funds, mutual funds, asset managers, and individuals. KKR provided roughly $1.2 billion, First Data said.<\/p>\n
KKR’s balance sheet will have approximately $1 billion invested in First Data’s equity.<\/p>\n
“We have taken full advantage of the last 12 months to strengthen our company through a total focus on serving our clients and bringing them new innovations that help them grow their business,” Frank Bisignano, chairman and chief executive officer of First Data, said in a statement. “The new investment will unlock $375 million per year to help us accelerate our transformation.”<\/p>\n","protected":false},"excerpt":{"rendered":"
First Data announced on Thursday that its parent has received commitments to purchase about $3.5 billion of equity in a private placement, led by KKR. The proceeds will be used to repay portions of the company’s debt. The private placement includes $1.5 billion from existing investors and $2 billion from new investors, including pension funds, … Continue reading “First Data in $3.5B private investment led by KKR”<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,3],"tags":[9147,9141,9144,9145,9142,9096,9143,9146,9140],"class_list":["post-14272","post","type-post","status-publish","format-standard","hentry","category-business-and-finance","category-news","tag-asset-managers","tag-equity","tag-first-data","tag-including-pension-funds","tag-investment","tag-investors","tag-kkr","tag-mutual-funds","tag-private-placement"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14272"}],"version-history":[{"count":1,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14272\/revisions"}],"predecessor-version":[{"id":14273,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14272\/revisions\/14273"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}