Business Context and Reporting Period
Company: Deluxe Corp
Filing Type: Form 8-K (Current Report)
Date of Report: November 22, 2011
Reporting Period: This filing relates to a private placement of debt issued in March 2011 and provides supplemental financial information for the quarter ended March 31, 2011.
Key Financial Metrics
This filing does not report current period revenue, profit, or cash flow. It discloses the following debt instrument details:
- Debt Issuance: $200.0 million of 7.00% senior notes.
- Maturity Date: March 15, 2019.
- Guarantees: Obligations are jointly and severally guaranteed on a full and unconditional basis by existing and future direct and indirect subsidiaries (the "Guarantors").
- Liquidity/Financial Position: The filing states that the recasted historical information has no impact on the Company's historical consolidated financial position, results of operations, or cash flows.
Material Changes
The filing discloses the issuance of $200.0 million in senior notes in March 2011. It includes the addition of "Note 16: Supplemental guarantor financial information" to the notes previously contained in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2011. The filing explicitly states that this does not represent a restatement of previously issued financial statements.
Guidance, Outlook, and Risks
Management Commentary: The Company is filing this report to provide investors with historical condensed financial information for the Guarantors and to incorporate recasted historical financial statements by reference into SEC filings.
Limitations: The information contained in the exhibits does not reflect events occurring after the filing of the Form 10-Q for the quarter ended March 31, 2011. Significant developments may have occurred subsequent to that date and would be described in later filings.
Risks/Contingencies: No specific new risks or contingencies are detailed in this text beyond the standard obligations of the senior notes.
Investor Verification Checklist
- Verify the terms of the $200.0 million 7.00% senior notes maturing in 2019.
- Review Exhibit 99.1 for the specific condensed financial information of the Guarantors.
- Check subsequent SEC filings for any material changes to the business or financial position after March 31, 2011.
- Confirm that the recasted financial statements do not alter previously reported consolidated results.