First Data IPO Could Net $5 Billion
July 23, 2015
This week, First Data filed for an IPO experts have speculated could raise $5 billion. Private equity firm Kohlberg Kravis Roberts bought the processing giant for $29 billion in one of the last large leveraged buyouts before the 2008 financial crisis. The company said it will use proceeds from the offering to retire some of its reported $20 billion in long-term debt.
In the SEC filing, the Atlanta-based processing giant disclosed its 2014 revenue of $11.2 billion rose 3.2 percent from the previous year. Adjusted earnings before interest, taxes, depreciation and amortization rose 8.7 percent to $2.7 billion. This is the second time First Data has gone public. The company spun off from American Express in 1992.