8-KMaterial AgreementsFinancial EventsOther Events+1

FISERV INC 8-K Report, Material Agreement (May 7, 2025)

Filed May 7, 2025For Securities:FISV

Summary

Fiserv, Inc. (FISV) announced the closing of a significant debt offering through its indirect, wholly owned subsidiary, Fiserv Funding Unlimited Company. The company successfully issued €2.225 billion in aggregate principal amount across three series of senior notes: €750 million of 2.875% Senior Notes due 2028, €775 million of 3.500% Senior Notes due 2032, and €650 million of 4.000% Senior Notes due 2036. These notes are fully and unconditionally guaranteed by Fiserv, Inc. on a senior unsecured basis. The offering provides Fiserv with substantial capital, likely for general corporate purposes or to refinance existing debt, at various interest rates and maturity periods. Key terms include the ability for Fiserv Funding to redeem the notes prior to maturity under specific conditions, with varying "par call" dates and call premiums. Additionally, the notes include a provision requiring Fiserv Funding to repurchase the notes at 101% of their principal amount in the event of a "change of control triggering event." The company has registered these notes under the Securities Act of 1933, indicating preparedness for capital market activities. This move reflects Fiserv's ongoing strategy to manage its capital structure and fund its operations.

Key Highlights

  • 1Fiserv Funding Unlimited Company, a subsidiary of Fiserv, Inc., closed a public offering of €2.225 billion in senior notes.
  • 2The offering comprises three tranches: €750 million of 2.875% notes due 2028, €775 million of 3.500% notes due 2032, and €650 million of 4.000% notes due 2036.
  • 3Fiserv, Inc. is providing a full and unconditional senior unsecured guarantee for all issued notes.
  • 4The notes are governed by an Indenture dated April 24, 2025, with supplemental indentures for each note series.
  • 5Fiserv Funding has the option to redeem the notes prior to maturity at specified redemption prices, which vary based on the note series and proximity to the par call date.
  • 6A "change of control triggering event" obligates Fiserv Funding to repurchase the notes at 101% of the principal amount plus accrued interest.
  • 7The notes and guarantees are registered under the Securities Act of 1933.

Frequently Asked Questions

Fiserv, through its subsidiary Fiserv Funding Unlimited Company, raised a total of €2.225 billion in aggregate principal amount across three series of senior notes.

The notes have the following terms: 2.875% interest rate with a maturity in 2028, 3.500% interest rate with a maturity in 2032, and 4.000% interest rate with a maturity in 2036.

Yes, Fiserv, Inc. fully and unconditionally guarantees these notes on a senior unsecured basis.

Fiserv Funding can redeem the notes prior to specified 'par call dates' at a redemption price calculated based on present values of remaining payments plus a spread, or at 100% of the principal amount on or after the par call date. The specific par call dates and additional spread vary by note series.