Business Wire
FIS Announces Expiration and Results of Any and All Tender Offer

JACKSONVILLE, Fla.–(BUSINESS WIRE)–Fidelity National Information Services, FIS™, (NYSE:FIS), a global leader in financial services technology, announced today that its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.625% Senior Notes due 2020 (the “2020 Notes”), 2.250% Senior Notes due 2021 (the “2021 Notes”) and 4.500% Senior Notes due 2022 (the “2022 Notes” and, collectively with the 2020 Notes and the 2021 Notes, the “Any and All Notes”) (CUSIP Nos. 31620MAP1, 31620MAS5 and 31620MAQ9) expired at 5:00 p.m., New York City time, on December 2, 2019. According to information provided by D.F. King & Co. Inc., the tender and information agent for the Any and All Tender Offer, $545,508,000 aggregate principal amount of the 2020 Notes, $638,618,000 aggregate principal amount of the 2021 Notes and $158,294,000 aggregate principal amount of the 2022 Notes were validly tendered prior to or at the expiration of the Any and All Tender Offer and not validly withdrawn. This amount excludes $763,000 aggregate principal amount of the 2020 Notes and $942,000 aggregate principal amount of the 2021 Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated November 21, 2019 (the “Offer to Purchase”), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders’ performance of the delivery requirements under such procedures. The obligation of FIS to accept any Any and All Notes tendered and to pay the consideration for the Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the Offer to Purchase. If the conditions are met, FIS expects to pay for such Any and All Notes on December 3, 2019 (the “Any and All Settlement Date”).
Holders of Any and All Notes that validly tendered and did not validly withdraw their Any and All Notes prior to the expiration of the Any and All Tender Offer will receive total consideration of $1,012.47 for each $1,000 principal amount of 2020 Notes, $1,005.81 for each $1,000 principal amount of 2021 Notes and $1,063.38 for each $1,000 principal amount of 2022 Notes tendered and accepted for payment, in each case plus accrued and unpaid interest up to, but not including the Any and All Settlement Date.
FIS intends to fund the purchase of the Any and All Notes with a portion of the proceeds from its concurrent offering of Euro- and Pounds sterling-denominated senior notes, which is expected to be completed on December 3, 2019.
FIS has retained BofA Securities and J.P. Morgan Securities LLC as dealer managers (the “Dealer Managers”) for the Any and All Tender Offer. FIS has retained D.F. King & Co, Inc. as the tender and information agent for the Any and All Tender Offer. For additional information regarding the terms of the Any and All Tender Offer, please contact: BofA Securities at (980) 387-3907 (collect) or (888) 292-0070 (toll-free); or J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3424 (collect). Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 549-6864 (for all others toll-free), by email at fis@dfking.com or to the Dealer Managers at their respective telephone numbers.
This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Any and All Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
Forward-looking Statements
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future events and are not statements of fact, actual results may differ materially from those projected. FIS undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the risks related to the acceptance of any tendered Any and All Notes, the expiration and settlement of the Any and All Tender Offer, the satisfaction of conditions to the Any and All Tender Offer, whether the Any and All Tender Offer will be consummated in accordance with the terms set forth in the Offer to Purchase or at all and the timing of any of the foregoing, and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of FIS’ Form 10-K for the year ended December 31, 2018, FIS’ Form 10-Q for the quarterly period ended June 30, 2019, FIS’ Form 10-Q for the quarterly period ended September 30, 2019 and FIS’ other filings with the Securities and Exchange Commission.
Contacts
Kim Snider
Senior Vice President
FIS Global Marketing and Communications
904.438.6278
kim.snider@fisglobal.com
Nathan Rozof
FIS Corporate Finance
904.438.6918
nathan.rozof@fisglobal.com
Business Wire
Shortages of Low-Skill, Middle-Skill, and High-Skill Workers Causing Revenue Declines and Other Headaches for Employers, TrueBlue’s Latest Study Finds
TACOMA, Wash.–(BUSINESS WIRE)–While there has been a lot of discourse around the shortage of high-skill workers in the U.S., a new study by staffing giant TrueBlue shows a significant percentage of employers are also struggling with deficits in low-skill and middle-skill workers – and dealing with a host of business challenges as a result.
According to TrueBlue’s nationwide survey, which included nearly 1,500 managers (HR, operational, and business), skills shortages are widening across skills categories:
- 32% of managers can’t find workers to fill low-skill positions (generally classified as those that may or may not require a high school diploma and require little to no experience)
- 46% can’t find workers for middle-skill jobs (typically require some experience and continuing education such as college courses, an apprenticeship or certification, but don’t necessarily require a four-year college degree)
- 35% can’t find workers for high-skill jobs (typically require a four-year degree or higher and specialized experience)
“Low unemployment coupled with globalization, accelerated technology advancement, and evolving work models are creating talent deficits across all skill levels within organizations,” said Patrick Beharelle, CEO of TrueBlue. “The skills supply is not keeping up with demand, which is fueling a greater intensity in an already competitive labor market and adversely impacting productivity, service quality, and revenue growth for businesses.”
Impact of Talent Shortages on Businesses
The top three business challenges managers are experiencing due to prolonged job vacancies within their organizations include:
- Quality – More than a third of managers (35%) reported that extended job vacancies have caused lower product or service quality.
- Turnover – 25% have seen higher employee turnover.
- Revenue – 23% said their companies experienced a decline in revenue.
To address talent shortages and minimize associated business impact, 2 in 5 companies (41 percent) reported that they plan to raise compensation for entry-level workers and nearly half (46 percent) plan to train and hire the long-term unemployed in the coming year.
Survey Methodology
This SurveyMonkey survey was conducted online in the U.S. by TrueBlue between September 23 and October 15, 2019. It included 1,499 managers (HR, operations and general). The survey was across regions, industries, and company sizes.
About TrueBlue
TrueBlue (NYSE: TBI) is a global leader in specialized workforce solutions that help clients achieve business growth and improve productivity. In 2018, the company connected approximately 730,000 people with work. TrueBlue’s PeopleReady segment offers on-demand industrial staffing services, PeopleManagement offers contingent and productivity-based, on-site industrial staffing and driver staffing services, and PeopleScout offers recruitment process outsourcing (RPO) and managed service provider (MSP) solutions to a wide variety of industries. Learn more at www.trueblue.com.
Contacts
Jennifer Grasz
Vice President, Corporate Communications
jgrasz@trueblue.com
(312) 840-6327
Business Wire
Law Firm of Estey & Bomberger Reports: Uber Says Nearly 6,000 Rapes, Sexual Assaults Occurred in Two-year Period
SAN DIEGO–(BUSINESS WIRE)–The law firm of Estey & Bomberger reported today that Uber’s long-awaited sexual assault report was released Dec. 5, with the ride-hailing company admitting that 5,981* passengers and drivers were raped or sexually assaulted between 2017-2018.
“I applaud Uber for releasing the data that acknowledges there is a problem with sexual assaults occurring in rideshare. While we believe these assaults were preventable, Uber’s report represents a tremendous step for ride-hailing safety,” said Estey & Bomberger attorney Mike Bomberger. “I think there are many positive measures Uber is taking. However, Uber still has an obligation to help the victims who have been raped and assaulted and facing a lifetime of emotional pain. They will need ongoing therapy.”
Estey & Bomberger represents more than 100 ride-hailing sexual assault victims.
“It’s important to remember when reading this report that only one in three women report their sexual assault,” Bomberger said. “Therefore, the number of women who have been sexually assaulted is certainly much higher than reported here.”
Bomberger reiterated his call for all ride-hailing trips to be digitally recorded.
“We’re pleased that Uber is now testing cameras in Texas. That’s the real solution to this problem – if drivers know they’re being recorded they won’t rape and assault,” Bomberger said.
Estey & Bomberger is asking Lyft and Uber sexual assault victims, along with former employees of the ride-sharing firms, to contact its office by calling 866-964-1708 or emailing info@lyftsexualassaultlawyers.com.
*statistic courtesy NPR “Uber Received Nearly 6,000 U.S. Sexual Assault Claims in Past 2 Years,” Dec. 5, 2019.
Contacts
for Estey & Bomberger
Ed Vasquez, 408-420-6558
ed@ejvcommunications.com
Business Wire
Best’s Market Segment Report: AM Best Maintains Global Reinsurance Market Outlook at Stable
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has maintained a market segment outlook of stable on the global reinsurance industry for 2020, citing a stabilized pricing environment — albeit at levels below long-term adequacy — the continuing alignment between traditional and third-party capital and ongoing stability in the global life reinsurance segment.
A new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance,” states that although rates in the non-life reinsurance market have improved modestly, pricing has not kept adequate pace with the changing risk dynamics, as illustrated by loss development from events such as hurricanes Irma and Maria and Typhoon Jebi, and potential losses from more-recent events (e.g., Hurricane Dorian). Property catastrophe pricing still is being driven by the availability of third-party capital; however, the increasing interdependence between traditional capacity and third-party capital through joint ventures, retrocession and direct ownership should serve to more closely align return objectives for the market overall. Third-party capital also represents a benefit in the form of stabilized earnings of rated balance sheets, due to tail risk being assumed by this capital.
Overall market conditions are improving, but AM Best remains concerned about insufficient rate adequacy relating to certain U.S. casualty lines, a steady decline in the benefit of favorable reserve releases and the pervasive low interest rate environment. The collective effect of these factors requires underwriting discipline, and failure to react to these pressures could adversely affect the segment.
The report outlines other factors that are driving the stable market segment outlook, including:
- AM Best believes alternative third-party capital will hold the line on future return expectations following the recent heavy catastrophe loss years;
- A decline in capital consumption and earnings volatility, due in part to the increased utilization of third-party capital in retrocessionaire programs;
- Greater emphasis on underwriting discipline due to pressure on interest rates and potential slower economic growth globally;
- Improving pricing momentum driven by higher loss costs, coupled with lower loss reserve redundancies;
- Increased demand for non-life reinsurance due to primary companies’ recent loss experience, as well as new risk transfer opportunities and mergers and acquisitions;
- Stable operating performance among life reinsurers, which continue to maintain defensible market positions and offer services beyond risk transfer that create hurdles for new entrants.
To access the full copy of the overall global reinsurance briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=292334.
Separate briefings on the non-life and life reinsurance segments can be viewed at:
- Global non-life: http://www3.ambest.com/bestweek/purchase.asp?record_code=292333.
- Global life: http://www3.ambest.com/bestweek/purchase.asp?record_code=292320.
To view a video with AM Best Associate Director Scott Mangan about the global reinsurance market segment outlook, please visit http://www.ambest.com/v.asp?v=globalreoutlook1219.
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2019 by A.M. Best Company, Inc. and/or its affiliates.
ALL RIGHTS RESERVED.
Contacts
Robert DeRose
Senior Director
+1 908 439 2200, ext. 5435
robert.derose@ambest.com
Greg Carter
Managing Director
+44 20 7397 0288
greg.carter@ambest.com
Michael Porcelli, FSA
Director
+1 908 439 2200, ext. 5548
michael.porcelli@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
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