Western Union Completes $750M Debt Offering; Will Use Proceeds for Buybacks and Repaying Debt
The Western Union Company (NYSE: WU) announced today that it has successfully completed a $750 million issuance of senior unsecured notes. The issuance includes $250 million of notes due 2015, with an interest coupon of 2.375%, and $500 million of notes due 2017, with an interest coupon of 2.875%.
“We are pleased with the positive response to our debt offering,” said Executive Vice President and Chief Financial Officer Scott Scheirman. “Our business generates strong cash flow, and we were able to increase our offering to $750 million due to the high level of demand.”
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.