Key Developments: Total System Services Inc (TSS)
23.65USD
24 May 2013
$0.05 (+0.21%)
$23.60
$23.50
$23.72
$23.40
715,984
1,450,123
$25.06
$21.10
Latest Key Developments (Source: Significant Developments)
Total System Services Inc Prices $1.1 Billion Of Senior Notes
Total System Services Inc announced the pricing of two series of its senior notes in an aggregate principal amount of $1.1 billion, in an underwritten, registered public offering. Of these senior notes, $550 million will mature on June 1, 2018, and will bear interest at an annual rate of 2.375%, and $550 million will mature on June 1, 2023, and will bear interest at an annual rate of 3.750%. The offering is expected to close on May 22, 2013, subject to customary closing conditions. TSYS intends to use the net proceeds to pay a portion of the purchase price of its previously announced acquisition of NetSpend Holdings, Inc. J.P. Morgan acted as sole active book-running manager for the offering. Mitsubishi UFJ Securities acted as passive book-running manager for the offering. Full Article
Total System Services Inc Announces First-Quarter 2013 Dividend
Total System Services Inc announced that its board of directors has approved a quarterly cash dividend of $0.10 per share on TSYS common stock, payable April 1, 2013, to TSYS shareholders of record as of the close of business on March 21, 2013. Full Article
Total System Services Inc to Acquire NetSpend Holdings Inc
Total System Services Inc and NetSpend Holdings Inc, provider of general purpose reloadable (GPR) prepaid debit cards and related financial services to under banked consumers in the United States, announced that they have entered into a definitive agreement pursuant to which TSYS will acquire NetSpend in an all cash transaction valued at approximately $1.4 billion. Under terms of the agreement, NetSpend shareholders will receive $16.00 in cash for each share of NetSpend common stock. TSYS expects the transaction to be accretive to GAAP EPS for the first 12 month period following closing, excluding one-time acquisition related fees and expenses. The transaction is expected to close in mid-2013. Full Article
Total System Services Inc Issues FY 2013 Guidance; Revenue And Net Income Guidance Below Analysts' Estimates
Total System Services Inc announced that for fiscal 2013, it expects revenue to be $1.955 billion, Net income to be in the range of $266-$272 million and earnings per share (EPS) in the range of $1.43-$1.45. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.98 billion, net income of $268 million and EPS of $1.44 for fiscal 2013. Full Article
Total System Services Inc Completes Acquisition Of ProPay
Total System Services Inc announced that it has completed its acquisition of ProPay. ProPay is a wholly owned TSYS subsidiary reporting to Mark Pyke, president of TSYS` Merchant Services segment. Financial Technology Partners LP and FTP Securities LLC (together FT Partners) acted as exclusive financial and strategic advisors to ProPay and its Board of Directors in this transaction. Terms of the transaction were not disclosed. Full Article
Total System Services Inc Signs Long-Term Payments Agreement With Merrick Bank
Total System Services Inc announced the signing of a long-term agreement with Merrick Bank, a subsidiary of CardWorks, Inc., to provide flexible solutions for Merrick's independent sales organization (ISO) partners, including point-of-sale (POS) solutions, authorization, settlement, reporting, managed services and risk mitigation solutions. Terms of the agreement were not disclosed. Full Article
Total System Services Inc Signs PRIME 4 Agreement With NMB Bank
Total System Services Inc announced that Zimbabwe’s NMB Bank Limited (NMB) has signed an agreement to migrate its Visa credit card portfolio to PRIME 4, the latest version of the TSYS licensed card and merchant management solution. NMB has been a TSYS client since 2001 when it first licensed a card management solution to begin issuing Visa credit cards in Zimbabwe. NMB will use PRIME 4 to manage its cards issuing and cash acquiring as it seeks to expand its range of card services for consumers and businesses. Full Article
Total System Services Inc Announces Fourth-Quarter 2012 Dividend
Total System Services Inc announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share on TSYS common stock, payable December 26, 2012, to TSYS shareholders of record as of the close of business on December 17, 2012. Full Article
Total System Services Inc Reaffirms FY 2012 Guidance-Conference Call
Total System Services Inc announced that it is sticking with fiscal 2012 guidance. It expects to be at the high end of that guidance. Full Article
Total System Services Inc Announces Third Quarter 2012 Dividend
Total System Services Inc announced that its board of directors has approved a quarterly cash dividend of $0.10 per share on TSYS common stock, payable Oct. 1, 2012, to TSYS shareholders of record as of the close of business on September 20, 2012. Full Article
Payment processor TSYS to buy NetSpend for $1.4 billion
- Payment processor Total System Services Inc (TSYS) said it will buy prepaid debit card provider NetSpend Holdings Inc for about $1.4 billion in cash to expand its presence in the prepaid card market and target new customers.
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