Fair Isaac Corporation closed a private offering of $1.0 billion aggregate principal amount of 6.250% Senior Notes due 2034 on March 20, 2026, pursuant to an Indenture with U.S. Bank Trust Company, National Association. Net proceeds will repay indebtedness under its credit agreement, redeem $400 million of 2018 Senior Notes, pay fees and expenses, and support general corporate purposes including common stock repurchases.
Key takeaways
Closed $1.0 billion 6.250% Senior Notes due September 15, 2034 on March 20, 2026
Notes issued to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S; unregistered under Securities Act
Interest accrues at 6.250% per annum, payable semi-annually on March 15 and September 15, first payment September 15, 2026
Redeemable prior to March 15, 2029 at 100% principal plus make-whole premium; up to 40% with equity proceeds at 106.250%
Proceeds to repay Third Amended and Restated Credit Agreement dated May 13, 2025, redeem $400 million 5.25% Senior Notes due 2026, fees, and general purposes including stock repurchases
Indenture covenants limit liens, sale/leasebacks, subsidiary debt, mergers; change of control repurchase at 101%