Fair Isaac Corporation (NYSE: FICO) announced its intention to offer $1.0 billion in aggregate principal amount of Senior Notes due 2034 through a private offering exempt from Securities Act registration requirements.

The company plans to use proceeds from the offering to repay debt under its existing unsecured revolving credit facility and fund the full redemption of $400 million in 5.25% Senior Notes due 2026 that were issued in May 2018. Additional funds will cover related fees and expenses, with remaining proceeds designated for general corporate purposes including potential common stock repurchases.

FICO stated it will provide conditional notice on March 11, 2026 of its intent to redeem the 2018 Senior Notes on March 26, 2026, contingent upon successful issuance of the new notes on satisfactory terms and amounts.

The notes will be offered as senior unsecured obligations to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S. The securities have not been registered under the Securities Act or other jurisdictional securities laws.

The Bozeman, Montana-based company emphasized that the announcement does not constitute an offer to sell securities or a redemption notice for the existing 2018 Senior Notes.