Alliance Data Systems Corp. upsized a proposed offering of its 4.750% senior notes due 2024 to $850 million, from an initial offering size of $600 million.
The offering was priced at 100% of the aggregate principal amount of the notes.
The notes, which will be general senior unsecured obligations of the company, will be offered and sold only to qualified institutional buyers.
The offering is expected to close Dec. 20.
Net proceeds will be used to repay a portion of the company's outstanding indebtedness under the term loans provided for in its existing credit agreement.
Interest on the notes will be paid semiannually, starting June 15, 2020.