iPayment, Inc. Announces Partial Redemption of 9.50% Senior Secured Notes due 2019

WESTLAKE VILLAGE, Calif., Aug. 7, 2017 /PRNewswire/ -- iPayment, Inc. ("iPayment"), a trusted provider of payment and processing solutions for small and medium-sized businesses (SMBs), today announced that it has called for the partial redemption of its outstanding 9.50% Senior Secured Notes due 2019 (the "Notes"), in which an aggregate principal amount of $103,145 of those Notes bearing CUSIP 46262EAF2 and an aggregate principal amount of $15,170,855 of those Notes bearing CUSIP 46262EAG0, representing a total aggregate principal amount of Notes of $15,274,000, will be redeemed. The Notes will be redeemed for cash at a price equal to 104.75% of the principal amount of the Notes plus accrued and unpaid interest up to, but not including, the date of redemption. The redemption date for the Notes will be September 7, 2017. After such redemption date, upon surrender and cancellation of the Notes, new Notes in principal amount equal to the unredeemed portion of the original Notes will be issued in the names of the holders thereof.

This press release does not constitute an offer to purchase the Notes. The redemption of Notes is made solely by iPayment's redemption notice sent to holders of the Notes.

Forward-Looking Statements

Information in this press release may contain "forward-looking statements" about iPayment. These forward-looking statements are subject to risks, uncertainties and assumptions, many of which are beyond our control, and are not guarantees of future results, performance or achievements, and actual results, performance or achievements could differ materially from our current expectations as a result of numerous factors, including but not limited to the following: the effect of pending and threatened litigation; acquisitions; liability for merchant chargebacks; restrictive covenants governing our indebtedness; migration of merchant portfolios to new bank sponsors; our reliance on card payment processors and on independent sales organizations; changes in interchange fees; risks associated with the unauthorized disclosure of data; imposition of taxes on Internet transactions; actions by our competitors; and risks related to the integration of companies and merchant portfolios that we have acquired or may acquire. We undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

About iPayment

iPayment is a trusted provider of payment processing solutions in the United States. With over eighteen years of experience and more than 140,000 SMB customers, iPayment is consistently recognized for its depth of payments experience, breadth of product offerings and commitment to transparency and SMB support. From new product innovation to customer service satisfaction, iPayment is an organization focused on small business enablement and delivering relevant and impactful services and solutions that help partners and SMB customers grow their individual businesses. For more information on iPayment, please visit http://www.ipaymentinc.com.

SOURCE iPayment, Inc.

Related Links

http://www.ipaymentinc.com