First Data announced Thursday that it will once again become a publicly held company.
The payments processor said it would issue a public offering of 160 million shares of Class A common stock at between $18 and $20 per share. The company applied to list its Class A shares on the New York Stock Exchange under the symbol FDC.
First Data also said it would use the net proceeds of the offering to redeem unsecured notes worth $510 million, which would have been due in 2021. The balance of the proceeds will be put toward approximately $2 billion in senior unsecured notes, also due in 2021, and for general corporate purposes.
The previously public First Data went private after a purchase by private equity firm Kohlberg Kravis Roberts & Co a little more than nine years ago. Since then the company has worked to retire existing debt, cut expenses and broaden its reach to both retailers and financial institutions.
The company did not announce a date for when its stock would begin to trade.
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