Paysafe Seeks to Raise $1B Via Senior Notes for Debt Refinancing

Paysafe Ltd PSFE plans to offer $1.026 billion senior secured notes due 2029 in an institutional offering via its indirect subsidiaries Paysafe Holdings (US) Corp and Paysafe Finance PLC.
Paysafe will utilize the offering proceeds along with new term loan proceeds to refinance certain existing obligations.
Paysafe's long-term debt stood at $2.1 billion as of Mar. 31, 2021.
Price action: PSFE shares traded higher by 3.75% at $12.72 in the premarket session on the last check Monday.