Fiserv Announces Tender Offers for Any and All of Its Outstanding 5.150% Senior Notes Due 2027 and 4.400% Senior Notes Due 2049
Key Points from the Announcement
- Fiserv, Inc. (NASDAQ: FISV) has announced the commencement of tender offers to purchase for cash any and all of its outstanding 5.150% Senior Notes due 2027 and 4.400% Senior Notes due 2049.
- The total principal amount outstanding for the 2027 notes is \$750 million, while the 2049 notes have an outstanding amount of \$2 billion.
- The tender offers are being conducted pursuant to an Offer to Purchase dated June 16, 2026. The expiration date for the offers is 5:00 p.m. (New York City time), June 23, 2026, unless extended or terminated at the company’s discretion.
- The purchase price (the “Consideration”) for the notes will be calculated based on a fixed spread over the yield of the relevant U.S. Treasury reference securities. For the 2027 notes, the spread is 5 basis points; for the 2049 notes, the spread is 108 basis points.
- Holders whose notes are accepted for purchase will also receive accrued interest up to, but not including, the settlement date, expected to be June 26, 2026.
Details Investors and Shareholders Should Note
- Purpose and Funding Condition: The tender offers are subject to the successful settlement of a new euro-denominated senior notes offering. This means Fiserv intends to refinance its debt profile, likely at more favorable rates or maturities, which could impact its future interest expense and overall capital structure.
- No Minimum Condition: The offers are not conditioned on a minimum amount of notes being tendered, giving Fiserv flexibility to accept any portion of outstanding notes offered by investors.
- Withdrawal Rights: Investors may withdraw tenders at any time before the Expiration Date, but not after, unless required by law or extended by the company.
- Dealer Managers and Information Agent: Citigroup, J.P. Morgan, TD Securities, and Wells Fargo Securities are the lead dealer managers for the tender offers. Global Bondholder Services Corporation is the tender and information agent.
- No Recommendation: Neither Fiserv nor any affiliates, dealer managers, or agents are making recommendations regarding participation. Noteholders must make their own decisions, possibly in consultation with advisors.
- Price Sensitivity: The tender offers and any subsequent debt refinancing may be viewed as a proactive step to optimize Fiserv’s balance sheet, potentially lowering interest costs and reducing future refinancing risks. These developments could positively impact Fiserv’s share price by improving financial flexibility and profitability.
- Forward-Looking Statements: The company has cautioned that the tender offer is subject to various risks, including market conditions, interest rates, and the completion of other financing activities. Any failure in these areas could impact the outcome of the tender offers and, by extension, Fiserv’s financial position.
Additional Information
Investors can obtain the full Offer to Purchase document from Global Bondholder Services Corporation at (855) 654-2014 or by visiting https://www.gbsc-usa.com/Fiserv/. Those holding notes through intermediaries should contact their custodians or brokers if they wish to participate.
About Fiserv
Fiserv, Inc. is a Fortune 500 company and a global leader in payments and financial technology solutions. It serves businesses and financial institutions worldwide, with offerings across payments, digital banking, merchant acquiring, e-commerce, and more. Fiserv is listed on the NASDAQ and is a member of the S&P 500.
Potential Impact on Fiserv’s Share Value
The launch of these tender offers signifies Fiserv’s active management of its debt portfolio, which could lead to lower financing costs and improved credit metrics. Successfully refinancing existing debt, especially if completed at lower interest rates, may enhance future earnings and cash flow, factors that are typically viewed positively by equity investors. However, the outcome is contingent on market conditions and the successful issuance of new debt.
Contact Information
Media Relations: Stacy Davidson, Chief Communications and Marketing Officer ([email protected])
Investor Relations: Walter Pritchard, Senior Vice President, Investor Relations ([email protected])
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should review the official Offer to Purchase and consult their own financial or legal advisors before making any investment decisions. Fiserv’s tender offer is subject to risks and uncertainties that could materially impact the company’s future results and share price. The author and publisher do not accept any liability for investment decisions based on the content of this article.
