First Data Corp. plans to redeem on Jan. 14, 2017, $1 billion of its 6.75% senior secured notes due 2020.

The company gave the notice to the trustee of the notes Dec. 23. The company said it is obligated to pay the redemption amount if the completion of its debt financing, to be offered after the date of notice, yields net proceeds sufficient to pay the redemption amount.

In addition, First Data retired 175,001,996 of its class B common shares after they were converted into class A common shares.

The authorized shares of First Data's capital stock now consist of 1,600,000,000 class A common shares, 624,998,004 class B common shares and 100,000,000 preferred shares.