[Capital Stack]

Atlanta, Sept. 13, 2012 -- First Data Corporation (“First Data”) today announced that it intends to offer $250 million aggregate principal amount of 6¾% senior secured notes due 2020 (the “Notes”). The Notes will be issued under the same indenture as the $1.3 billion aggregate principal amount of 6¾% senior secured notes due 2020 that were offered on August 2, 2012. In accordance with the terms of its senior secured credit facilities, First Data will use the proceeds from the offering to repay a portion of its outstanding senior secured term loans.

The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.

Source: Company press release.

[Sean Cash]

So basically they are issuing bonds to pay off debt?

[ChrMu]

Atlanta, Sept. 13, 2012 -- First Data Corporation (“First Data”) today announced that it intends to offer $250 million aggregate principal amount of 6¾% senior secured notes due 2020 (the “Notes”). The Notes will be issued under the same indenture as the $1.3 billion aggregate principal amount of 6¾% senior secured notes due 2020 that were offered on August 2, 2012. In accordance with the terms of its senior secured credit facilities, First Data will use the proceeds from the offering to repay a portion of its outstanding senior secured term loans.

The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.

Source: Company press release.

While it's all fine and good to say the notes (bonds is probably the more accurate term) are senior secured debt but what assets are they secured against? What debt are they senior to?

[Chambo]

Exactrly...raising money