Date Posted: 9/29/2004
Deluxe Offers $500 Million Notes
Tuesday September 28, 10:57 am ET
Deluxe Offers $500 Million Notes to Partially Pay Off Its Short-Term Debt
ST. PAUL, Minn. (AP) -- Check and business form printer Deluxe Corp. said Tuesday it is offering $500 million in notes to partially pay off its short-term debt from a recent acquisition.
Deluxe acquired competitor New England Business Service Inc. in June in a cash offer for more than 13 million shares at $44 each.
The company said it will offer two series of senior unsecured notes, due 2007 and 2014, respectively, with each series worth a total of at least $250 million. The company did not disclose the respective interest rates of the notes.
J.P. Morgan and Wachovia Securities are joint book-running managers for the offering, Deluxe said.
Shares of Deluxe rose 16 cents, or less than 1 percent, to $40.66 recently in late morning trading on the New York Stock Exchange.
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