Vantiv, LLC and Vantiv Issuer Corp., subsidiaries of Vantiv Inc., have launched an offering of $1.13 billion of senior unsecured notes due 2025.

Vantiv intends to use the net proceeds from the offering to refinance existing debt of Worldpay Group plc and to pay fees and expenses in connection with the company's acquisition of of Worldpay and its financing.

If completed, the gross proceeds of the notes will be deposited into an escrow account in the name of Vantiv LLC, subject to completion of the acquisition and the satisfaction of other conditions, and such proceeds are expected to reduce commitments for Vantiv's senior unsecured bridge facility. If the completion of the acquisition does not occur by a specified date or certain other events occur, the notes will be subject to a special mandatory redemption.