GLOBAL PAYMENTS INC 8-K

What Happened

• Global Payments Inc. announced on March 12, 2026 that it completed a public offering of $500 million of 4.550% Senior Notes due March 15, 2028 and $500 million of 5.400% Senior Notes due March 15, 2033. The Company entered into the Eighth Supplemental Indenture dated March 12, 2026 with U.S. Bank Trust Company, National Association as trustee. The offering was made under the Company’s Form S-3 shelf registration (effective Nov 5, 2025).

Key Details

• Amounts & rates: $500M 4.550% notes due 3/15/2028; $500M 5.400% notes due 3/15/2033. Interest payable semi‑annually on March 15 and September 15, starting September 15, 2026.
• Use of proceeds: to repay in full the Company’s 4.800% notes due April 2026 and to repay a portion of outstanding borrowings under its 5‑year revolving credit facility (maturing May 2030).
• Security & ranking: the Notes are unsecured and unsubordinated and rank equally with the Company’s other unsecured, unsubordinated indebtedness.
• Redemption & change‑of‑control: the Company may redeem the notes subject to specified make‑whole formulas (and for the 2033 Notes at 100% on/after the par call date of January 15, 2033). If a Change of Control Repurchase Event occurs, holders can require the Company to repurchase notes at 101% of principal plus accrued interest.

Why It Matters

• This transaction refinances the Company’s near‑term April 2026 maturity and reduces revolver borrowings, which should ease short‑term liquidity and refinancing pressure. It also extends maturities (to 2028 and 2033), but adds unsecured debt that ranks equally with other senior unsecured obligations. Investors should note the interest cost (4.55% and 5.40%) and the covenant limiting secured indebtedness (subject to exceptions), which affects how the Company can later secure future borrowings.