Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services and a Fortune 1000 company. After acquiring Princeton, N.J.-based Heartland Payment Systems Inc. for $4.3 billion, Global Payments sought to consolidate its headquarters in metro Atlanta, moving the executive offices from a suburban location to a new tower in Atlanta’s Buckhead neighborhood. At the same time, the company planned to expand its Sandy Springs office location and renovate its data centers in Fulton County. Approximately 350 jobs would be added. Global Payments sought financing help from Arnall Golden Gregory client the Development Authority of Fulton County.
Arnall Golden Gregory handled all aspects of the Development Authority’s involvement in the deal, which was complicated by the fact that there was more than one location involved and personal property/equipment for those sites. Arnall Golden Gregory advised on the deal structure, drafted the documents, negotiated with the tax assessors, and handled the validation in Fulton County Superior Court. The financing consisted of two taxable revenue bond transactions totaling $220 million ($63 million for real estate and $157 million for equipment). The financing facilitated the property acquisition and installation of certain machinery, equipment and personal property in connection with relocating Global Payments’ headquarters, renovating its data centers, and expanding the Sandy Springs offices.
Global Payments’ investment in Atlanta will create hundreds of new jobs and is further evidence that the metro region is a hub for financial technology. Georgia is home to more than 60 percent of the financial transactions industry.