First Data IPO on NYSE

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First Data IPO on NYSE

First Data sold 160 million shares of Class A common stock at $16 per share in an initial public offering on October 15, 2015. The stock began trading on the New York Stock Exchange (NYSE) under the symbol FDC. The sale raised $2.60 billion, making it the largest IPO in the U.S. this year. First Data received approximately $2.50 billion. It will use $2.10 billion of that money to reduce its debt load, and the remainder for general corporate purposes. First Data has $20.00 billion in debt on its books. Last year it paid $1.70 billion in interest expense even as it became profitable for the firs...

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Nilson Report

1074

October 2015

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