Fidelity prefers Europe for bulk of M&A deal

Worldpay logo on receipt from Alamy 230x150
By Alex Radford, David Freitas, David Rothnie, Jon Hay
16 May 2019

Fidelity National Information Services (FIS), the US financial software company, honoured Europe’s bond markets this week with the lion’s share of the debt financing for its takeover of Worldpay, the payments group that began as part of Royal Bank of Scotland, for an enterprise value of $43bn.

FIS had been known to be looking for about $11bn of bond debt for several weeks. That the euro and sterling markets could prove attractive enough to receive all but $1bn of the jumbo deal is testament to how strong demand is from European credit investors.

“Right now the ...

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