Deluxe Corporation Announces Intention to Offer $400 Million Senior Secured Notes

On November 18, 2024, Deluxe Corporation (NYSE: DLX) disclosed its plan to offer $400 million aggregate principal amount of senior secured notes due 2029. The offering is targeted towards qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons in accordance with Regulation S under the Securities Act.

The intended use of the net proceeds from this offering, combined with borrowings under the company’s new senior secured credit facilities, is twofold. Deluxe Corporation aims to refinance its term A loan facility and revolving credit facility and pay transaction fees and expenses. However, the completion of this offering is contingent upon finalizing an amendment and restatement of the existing credit agreement governing the term A loan and revolving credit facilities to establish revised senior secured credit facilities.

The company emphasized that this announcement does not constitute a solicitation or offer to buy the notes or any security. Additionally, the notes and associated guarantees are not registered under the Securities Act or any state laws, and therefore may not be offered or sold in the United States without the necessary registration or an eligible exemption.

In a cautionary statement concerning forward-looking statements, Deluxe Corporation acknowledged potential risks and uncertainties that could cause deviations from expectations. Factors such as economic conditions, legislative and regulatory actions, competition, and unforeseen events could impact actual results.

For additional details on this offering and the company’s financial outlook, interested parties can refer to the Form 10-K for the year ended December 31, 2023, and the Form 10-Q for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024. Deluxe Corporation has committed to updating or revising forward-looking statements as necessary to reflect new information or circumstances.

The attached press release, dated November 18, 2024, furnishes further information on the offering of senior secured notes by Deluxe Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Deluxe’s 8K filing here.

Deluxe Company Profile

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.