SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
EVERTEC, Inc. (NYSE:EVTC) (“EVERTEC” or the “Company”) today announced
that its main operating subsidiary, EVERTEC Group, LLC (“EVERTEC
Group”)") intends to offer, subject to market and other conditions, up
to $400 million aggregate principal amount of senior secured notes due
2022 (the "Notes"). The Notes are being offered in a private placement
to be conducted pursuant to Rule 144A and Regulation S under the
Securities Act of 1933, as amended (the "Securities Act").
The Notes will be senior secured obligations of EVERTEC Group and will
be unconditionally guaranteed, jointly and severally by the Company and
its existing and future wholly-owned subsidiaries (other than EVERTEC
Group) that also guarantee its existing senior secured credit facilities
and will be secured on a pari passu basis by a lien on the assets that
secure its existing senior secured credit facilities.
The Company intends to use the net proceeds from the offering to
refinance in full its existing term B senior secured credit facility and
to pay all fees and expenses related thereto.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall it constitute an
offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful. The notes to be offered have not been
and will not be registered under the Securities Act, or applicable state
securities laws, and may not be offered or sold in the United
States absent registration or pursuant to an applicable exemption from
the registration requirements of the Securities Act and applicable state
securities laws.
About EVERTEC
EVERTEC, Inc. (NYSE:EVTC) is the leading full-service transaction
processing business in Latin America, providing a broad range of
merchant acquiring, payment processing and business solutions services.
The largest merchant acquirer in the Caribbean and Central America—and
the seventh largest in Latin America—EVERTEC serves 19 countries in the
region from its base in Puerto Rico. The Company manages a system of
electronic payment networks that process more than 2.1 billion
transactions annually, and offers a comprehensive suite of services for
core bank processing, cash processing and technology outsourcing. In
addition, EVERTEC owns and operates the ATH network, one of the leading
personal identification number (“PIN”) debit networks in Latin America.
The Company serves a diversified customer base of leading financial
institutions, merchants, corporations and government agencies with
mission-critical technology solutions. For more information, visit http://www.evertecinc.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements” within the meaning of, and subject to the protection of, the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, statements related to the
offering of the Notes and the anticipated use of proceeds therefrom.
Such forward-looking statements involve known and unknown risks,
uncertainties, and other factors that may cause the actual results,
performance or achievements of EVERTEC to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements. Statements preceded by, followed by, or
that otherwise include the words “believes,” “expects,” “anticipates,”
“intends,” “projects,” “estimates,” and “plans” and similar expressions
of future or conditional verbs such as “will,” “should,” “would,” “may,”
and “could” are generally forward-looking in nature and not historical
facts. Any statements that refer to expectations or other
characterizations of future events, circumstances or results are
forward-looking statements.
Various factors that could cause actual future results and other
future events to differ materially from those estimated by management
include, but are not limited to: the Company’s reliance on its
relationship with Popular for a significant portion of revenues; our
ability to renew our client contracts on terms favorable to us; the
effectiveness of our risk management procedures; our dependence on our
processing systems, technology infrastructure, security systems and
fraudulent-payment-detection systems, and the risk that our systems may
experience breakdowns or fail to prevent security breaches or fraudulent
transfers; our ability to develop, install and adopt new technology; a
decreased client base due to consolidations in the banking and
financial-services industry; the credit risk of our merchant clients,
for which we may also be liable; the continuing market position of the
ATH® network; the Company’s dependence on credit card associations;
regulatory limitations on our activities due to our relationship with
Popular and our role as a service provider to financial institutions;
changes in the regulatory environment and changes in international,
legal, political, administrative or economic conditions; the
geographical concentration of the Company’s business in Puerto Rico;
operating an international business in multiple regions with potential
political and economic instability; operating in countries and
counterparties that put us at risk of violating U.S. sanctions laws; our
ability to execute our expansion and acquisition strategies; our ability
to protect our intellectual property rights; our ability to recruit and
retain qualified personnel; our ability to comply with federal, state,
and local regulatory requirements; evolving industry standards; the
Company’s high level of indebtedness and restrictions contained in the
Company’s debt agreements; and the Company’s ability to generate
sufficient cash to service the Company’s indebtedness and to generate
future profits.
Consideration should be given to the areas of risk described above,
as well as those risks set forth under the headings “Forward-Looking
Statements” and “Risk Factors” in the reports the Company files with the
SEC from time to time, in connection with considering any
forward-looking statements that may be made by the Company and its
businesses generally. We undertake no obligation to release publicly any
revisions to any forward-looking statements, to report events or to
report the occurrence of unanticipated events unless we are required to
do so by law.
EVERTEC, Inc.
Investors
Luis M. Cabrera
Senior
Vice President
Head of Investor Relations
787-773-5302
IR@evertecinc.com
Media
Wanda
Betancourt, APR
Senior Vice President
Communications and
Marketing
787-773-5302
NewsMedia@evertecinc.com
Source: EVERTEC, Inc.