Summary
Fiserv, Inc. (FISV) announced on June 11, 2019, the entry into a material definitive agreement related to a substantial public offering of senior notes. The company has agreed to sell a total of $9 billion in aggregate principal amount of senior notes across four different maturities: 2.750% due 2024, 3.200% due 2026, 3.500% due 2029, and 4.400% due 2049. This significant debt issuance is expected to close on June 24, 2019, and indicates a strategic move by Fiserv to raise substantial capital. The terms of the offering are detailed in an Underwriting Agreement with J.P. Morgan Securities LLC, Citigroup Global Markets Inc., and Wells Fargo Securities, LLC, acting as representatives for the underwriters. The agreement includes standard provisions such as representations, warranties, closing conditions, indemnification, and termination clauses. Investors should note that the proceeds from this offering will likely be used for general corporate purposes or to fund specific strategic initiatives, though the exact use is not detailed in this filing.
Key Highlights
- 1Fiserv entered into an Underwriting Agreement on June 10, 2019, to sell $9 billion in senior notes.
- 2The offering includes four tranches: $2 billion of 2.750% notes due 2024, $2 billion of 3.200% notes due 2026, $3 billion of 3.500% notes due 2029, and $2 billion of 4.400% notes due 2049.
- 3The public offering is expected to close on June 24, 2019.
- 4Key financial institutions, including J.P. Morgan, Citigroup, and Wells Fargo, are acting as underwriters.
- 5The Underwriting Agreement contains customary terms and conditions for such debt offerings.
- 6The notes are registered under the Securities Act of 1933, as evidenced by a prior Form S-3 filing.