Summary
Fiserv Inc. (FISV) has filed an 8-K report detailing a significant financing event. On September 20, 2018, the company entered into an Underwriting Agreement to issue $2.0 billion in aggregate principal amount of senior notes. This issuance comprises $1.0 billion of 3.800% Senior Notes due in 2023 and $1.0 billion of 4.200% Senior Notes due in 2028. This offering is a strategic move to secure long-term capital, with the proceeds expected to be used for general corporate purposes. The offering is being conducted through a public offering managed by Wells Fargo Securities, LLC and U.S. Bancorp Investments, Inc. as representatives of the underwriters. The transaction is expected to close on September 25, 2018. Investors should note the specific coupon rates and maturity dates for each tranche of notes, as well as the overall substantial capital raise.
Key Highlights
- 1Fiserv Inc. is raising $2.0 billion through the issuance of senior notes.
- 2The issuance includes $1.0 billion in 3.800% Senior Notes due 2023.
- 3The issuance also includes $1.0 billion in 4.200% Senior Notes due 2028.
- 4The financing agreement was entered into on September 20, 2018.
- 5The offering is expected to close on September 25, 2018.
- 6The transaction was conducted via an Underwriting Agreement with Wells Fargo Securities, LLC and U.S. Bancorp Investments, Inc. acting as representatives for the underwriters.