Global Payments Inc Announces 175 Billion Convertible Senior Notes Offering

WEB Global Payments Announces Pricing of Convertible Senior Notes Due 2031

Global Payments Inc. Announces $1.75 Billion Convertible Senior Notes Offering

WEB Global Payments has announced the pricing of its underwritten public offering of $1.75 billion aggregate principal amount of 0.125% Convertible Senior Notes due 2031. The notes will bear interest at a rate of 0.125% per annum, payable semi-annually in arrears. The notes will mature on March 15, 2031, unless earlier redeemed, repurchased or converted. The notes will be convertible into cash, shares of Global Payments common stock, or a combination of cash and shares of common stock, at Global Payments' election.

Key Details of the Offering

The offering is expected to close on or about March 15, 2023, subject to customary closing conditions. The net proceeds from the offering will be used for general corporate purposes, including the repayment of indebtedness and the funding of acquisitions.

J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities. The offering is being made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10017, BofA Securities, Inc., 200 North College Street, Charlotte, NC 28255, Citigroup Global Markets Inc., 388 Greenwich Street, New York, NY 10013, or Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282.