Global Payments prices $1.75B convertible notes at 1.5% due 2031, enters capped call transactions

GLOBAL PAYMENTS INC

$1.75B aggregate principal of 1.50% convertible senior notes due 2031; initial purchasers have option for additional $250M.
Conversion rate 6.3710 shares per $1,000 principal (initial conversion price ~$156.96, 20% premium over $130.80 close).
Company uses $222.25M of proceeds for capped call transactions to reduce dilution, cap at $228.90/share.
Company will repurchase $185.1M of its common stock from note purchasers at $130.80/share.
Net proceeds ~$1.72B; remainder to repay commercial paper and revolving credit borrowings.

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