Exhibit 99.1
Shift4 Announces Closing of Offering of $450.0 Million of Senior Notes due 2026
ALLENTOWN, PA., October 29, 2020 Shift4 Payments, Inc. (NYSE: FOUR), a leading independent provider of integrated payment processing and technology solutions, today announced the completion of the previously announced offering of $450.0 million aggregate principal amount of 4.625% senior notes due 2026 (the Notes) by Shift4 Payments, LLC (Shift4) and Shift4 Payments Finance Sub, Inc., subsidiaries of Shift4 Payments, Inc. The Notes are guaranteed, jointly and severally, on a senior unsecured basis, by certain of Shift4s subsidiaries.
The net proceeds of the offering, together with cash on hand, will be used to (i) repay all indebtedness outstanding under Shift4s first lien term loan facility (the First Lien Term Loan Facility) and (ii) the remainder, if any, for general corporate purposes. As of the date of this press release, the outstanding aggregate principal amount of the First Lien Term Loan Facility is $450.0 million.
The Notes were offered in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act). The Notes were offered within the United States to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and outside the United States in accordance with Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers of the Notes were made only by means of a private offering memorandum.
About Shift4 Payments:
Shift4 Payments (NYSE: FOUR) is a leading independent provider of integrated payment processing and technology solutions, delivering a complete ecosystem of solutions that extend beyond payments to include a wide range of value-added services. The companys technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, e-commerce, lodging, gaming, and many more. With over 7,000 sales partners, the company securely processed more than 3.5 billion transactions annually for over 200,000 businesses in 2019.
Investor Relations:
Sloan Bohlen
610.596.4475
investors@shift4.com
Media Contacts:
James McCusker
jmccusker@soleburytrout.com
Nate Hirshberg
Vice President, Marketing
Shift4 Payments
888.276.2108 x1107
nhirshberg@shift4.com