D+H closes bought deal financing in connection with its acquisition of Fundtech

On March 30, 2015, DH Corporation (D+H) announced that it entered into a definitive agreement to acquire Fundtech, a leading provider of global payments solutions to banks worldwide, for cash consideration of US$1.25 billion. The acquisition is expected to be completed in early May 2015.

To finance a part of the transaction, in conjunction with the acquisition, D+H entered into an agreement with a syndicate of underwriters co-led by CIBC, RBC Capital Markets and Scotiabank, pursuant to which they agreed to purchase, on a bought deal basis, from D+H and sell to the public (i) 18,975,000 subscription receipts (including 2,475,000 subscription receipts sold pursuant to the exercise in full of the underwriters' over-allotment option), at a price of C$37.95 per subscription receipt, for gross proceeds of C$720,101,250, and (ii) C$230,000,000 of 5.0% extendible convertible unsecured subordinated debentures, (including an additional C$30 million aggregate principal amount debentures also sold pursuant to the full exercise of the underwriters' over-allotment option) for aggregate gross proceeds to D+H of C$950,101,250. The financing closed on April 9, 2015.

D+H is a leading financial technology provider whose lending, payments and enterprise solutions are trusted by nearly 7,000 banks, specialty lenders, community banks, credit unions and governments.

Further information can be found on Canada Newswire's website.