Troutman Pepper Advises Client Deluxe on Notes Offering and Amended and Restated Credit Agreement

December 6, 2024—Troutman Pepper counseled Deluxe, a payments and data company, through a senior secured notes offering and amendment of its existing credit facility earlier this week, enhancing Deluxe’s financial flexibility and extending its debt maturities to 2029. Read more about the transactions here.

Two teams at Troutman Pepper collaborated on distinct aspects of the transaction:

Senior Secured Notes Offering

Troutman Pepper represented Deluxe in connection with its $450 million aggregate principal amount of senior secured notes due in 2029, and advised on securities law compliance, regulatory filings, and transaction structuring. The team advising Deluxe included partners Steven Khadavi, Heather Ducat, and associates Hannah Offerle, and Caitlin Oh.

Credit Facility Amendment

The firm represented Deluxe in amending and restating its existing credit facility, establishing new senior secured credit facilities totaling $900 million, including a $400 million revolving credit facility and a $500 million term loan facility. The Troutman Pepper team advising the amendment included partners Justin Wood, Steven Khadavi, and associates Suzanne Soboeiro and Phillip Chason.

These efforts, were key to refinancing the company’s debt, maintaining its strong liquidity, and extending debt maturities to 2029 – a strategic move central to Deluxe’s long-term financial planning.

Consistently recognized as a top-tier national practice, Troutman Pepper’s corporate attorneys regularly handle multimillion- and multibillion-dollar transactions. Core areas of service include capital markets transactions, corporate finances, and other significant domestic and cross-border transactions, as well as mergers and acquisitions, corporate governance, and securities law compliance. The firm has particular expertise in advising financial service clients, including private equity and private fund services, on matters from fund formation to investments and exit transactions.

For more information about Troutman Pepper and its capabilities in the financial services industry, visit www.troutman.com/services/industries/financial-services.

About Troutman Pepper
Troutman Pepper is a national law firm with more than 1,100 attorneys strategically located in 20+ U.S. cities. The firm’s litigation, transactional, and regulatory practices advise a diverse client base, from startups to multinational enterprises. The firm provides sophisticated legal solutions to clients’ most pressing business challenges, with depth across industry sectors, including energy, financial services, health sciences, insurance, and private equity, among others. Learn more at troutman.com.