EVERTEC, Inc. Announces Pricing of Initial Public Offering

EVERTEC, Inc. Announces Pricing of Initial Public Offering

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- EVERTEC, Inc. (NYSE: EVTC  ) (“EVERTEC” or the “Company”) announced today the pricing of its initial public offering of 25,263,159 shares of common stock at $20.00 per share. A total of 6,250,000 shares are being offered by EVERTEC, and a total of 19,013,159 shares are being offered by selling stockholders of the Company (of which 10,212,500 shares are being sold by an affiliate of Apollo Global Management, LLC (“Apollo”) and 8,800,659 shares are being sold by Popular, Inc.). The underwriters of the offering will have a 30-day option to purchase up to an additional 3,789,473 shares of common stock from Apollo at the initial public offering price, less underwriting discounts and commissions. After giving effect to the issuance and sale of shares in the initial public offering, Apollo and Popular will own 33.6% and 33.5%, respectively, of the shares of the Company’s outstanding common stock (or 28.8% and 33.5%, respectively, if the underwriters’ 30-day option is exercised in full).

The shares are expected to begin trading on the New York Stock Exchange on April 12, 2013 under the symbol “EVTC.” The offering is expected to close on or about April 17, 2013, subject to customary closing conditions.

The Company expects to receive proceeds from the sale of the 6,250,000 shares, net of underwriters’ discounts and commissions and other estimated expenses, of approximately $117.4 million from the offering and intends to use a substantial portion of the net proceeds of the offering to repay existing indebtedness. EVERTEC will not receive any proceeds from the sale of shares by selling stockholders.

Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as joint bookrunners for the offering. William Blair, Apollo Global Securities, LLC and Popular Securities, Inc. are acting as co-managers of the offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained by contacting: Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, by calling (866) 471-2526, or by emailing prospectus-ny@ny.email.gs.com or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204.

The registration statement relating to the securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About EVERTEC

EVERTEC is the leading full-service transaction processing business in Latin America and the Caribbean. Based in Puerto Rico, EVERTEC provides a broad range of merchant acquiring, payment processing and business process management services across 19 countries in the region. EVERTEC processes over 1.8 billion transactions annually, and manages the electronic payment network for over 4,100 automated teller machines (“ATM”) and over 104,000 point-of-sale payment terminals. EVERTEC is the largest merchant acquirer in the Caribbean and Central America and the sixth largest in Latin America. EVERTEC owns and operates the ATH network, one of the leading ATM and personal identification number debit networks in Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations and government agencies with ‘mission critical’ technology solutions and believes its business is well positioned to continue to expand across the fast growing Latin American region.

Forward-Looking Statements

The information in this press release contains forward-looking information that involves substantial risks and uncertainties regarding the proposed initial public offering by EVERTEC. EVERTEC assumes no obligation to update any forward-looking statements contained in this press release as the result of new information, future events or otherwise.



EVERTEC, Inc.
Investor Contact
Luis M. Cabrera
Senior Vice President
Treasurer, Head of Investor Relations & Corporate Development
787-773-5302
IR@evertecinc.com
or
Media Contact
Wanda Betancourt, APR
Senior Vice President
Communications and Marketing
787-773-5302
NewsMedia@evertecinc.com

KEYWORDS:   United States  North America  Caribbean  Puerto Rico  New York

INDUSTRY KEYWORDS:

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