Deluxe Prices Senior Notes Offering

Wireless News
03-15-2011
Deluxe Prices Senior Notes Offering
Type: News

Deluxe Corp. announced the pricing of $200 million principal amount of its Senior Notes due 2019 in an unregistered offering.

According to a release, the notes will pay interest semi- annually at a rate of 7.00 percent per annum and will be unsecured obligations of the Company. The notes will be guaranteed by all of the Company's subsidiaries that guarantee any of its other indebtedness. The notes are being offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons in offshore transactions in reliance on Regulation S under the Securities Act. The Company intends to use the net proceeds from the offering, as well as funds drawn under its revolving credit facility, to repurchase the Company's outstanding 5.00 percent Senior Notes due 2012 that are validly tendered (and not validly withdrawn) pursuant to the Company's previously announced tender offer and consent solicitation. The closing of the offering is expected to occur on March 15, and is subject to the satisfaction of customary closing conditions.
The previously announced tender offer and consent solicitation are being made pursuant to the Offer to Purchase and Consent Solicitation Statement, dated February 22, and the related Consent and Letter of Transmittal. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the Company's 5.00 percent Senior Notes due 2012.

Deluxe Corp. helps small businesses and financial institutions grow. The Company employs a multi-channel strategy to provide a suite of life-cycle driven solutions to its customers. The Company uses direct marketing, a North American sales force, financial institution and telecommunication client referrals, the internet and independent distributors and dealers to provide its customers a range of customized products and services. The Company produces personalized printed products, such as checks, forms, business cards, stationery, greeting cards and labels, as well as promotional products, marketing materials and retail packaging supplies. In addition, the Company offers a growing suite of business services, including web design and hosting, fraud protection, payroll, logo design, search engine marketing, business networking and other web- based services. In the financial services industry, the Company sells check programs and services which help financial institutions build lasting relationships with their clients, including fraud prevention, customer acquisition, regulatory and compliance, direct mail marketing analytics and profitability programs. The Company also sells personalized checks, accessories and other services directly to consumers.

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