Fiserv Inc. Issues $2 Billion in Senior Notes

TL;DR

Fiserv just dropped $2B in new debt. 4.5% for 2031, 5% for 2034.

AI Summary

On March 4, 2024, Fiserv Inc. entered into a material definitive agreement related to the issuance of senior notes. The company is issuing $1.25 billion in aggregate principal amount of 4.500% senior notes due 2031 and $750 million in aggregate principal amount of 5.000% senior notes due 2034. This transaction creates a direct financial obligation for the company.

Why It Matters

This issuance of senior notes represents a significant debt financing for Fiserv, impacting its capital structure and future financial obligations.

Risk Assessment

Risk Level: medium — Issuing a substantial amount of debt increases financial leverage and interest expense, which can pose risks if the company's performance falters.

Key Numbers

• $2.0 billion — Total Senior Notes Issued (Aggregate principal amount of 4.500% senior notes due 2031 and 5.000% senior notes due 2034.)
• 4.500% — Interest Rate on 2031 Notes (Coupon rate for the senior notes due 2031.)
• 5.000% — Interest Rate on 2034 Notes (Coupon rate for the senior notes due 2034.)

Key Players & Entities

• Fiserv Inc. (company) — Registrant
• March 4, 2024 (date) — Date of earliest event reported
• $1.25 billion (dollar_amount) — Principal amount of 4.500% senior notes due 2031
• $750 million (dollar_amount) — Principal amount of 5.000% senior notes due 2034

FAQ

From the Filing

0001193125-24-058013.txt : 20240304 0001193125-24-058013.hdr.sgml : 20240304 20240304172015 ACCESSION NUMBER: 0001193125-24-058013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 20 CONFORMED PERIOD OF REPORT: 20240304 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240304 DATE AS OF CHANGE: 20240304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FISERV INC CENTRAL INDEX KEY: 0000798354 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 391506125 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38962 FILM NUMBER: 24715758 BUSINESS ADDRESS: STREET 1: 255 FISERV DR STREET 2: PO BOX 979 CITY: BROOKFIELD STATE: WI ZIP: 53045 BUSINESS PHONE: 4148795000 MAIL ADDRESS: STREET 1: 255 FISERV DRIVE CITY: BROOKFIELD STATE: WI ZIP: 53045 8-K 1 d20683d8k.htm 8-K 8-K FISERV INC false 0000798354 0000798354 2024-03-04 2024-03-04 0000798354 us-gaap:CommonStockMember 2024-03-04 2024-03-04 0000798354 fi:SeniorNotesDue2027Member 2024-03-04 2024-03-04 0000798354 fi:SeniorNotesDue2030Member 2024-03-04 2024-03-04 0000798354 fi:SeniorNotesDue2025Member 2024-03-04 2024-03-04 0000798354 fi:M3.000SeniorNotesDue20312Member 2024-03-04 2024-03-04 0000798354 fi:M4.500SeniorNotesDue20311Member 2024-03-04 2024-03-04     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 4, 2024     Fiserv, Inc. (Exact name of registrant as specified in its charter)       Wisconsin   1-38962   39-1506125 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 600 N. Vel R. Phillips Avenue , Milwaukee , WI 53203 (Address of principal executive offices, including zip code) (262) 879-5000 (Registrant’s telephone number, including area code)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.01 per share   FI   The New York Stock Exchange 1.125% Senior Notes due 2027   FI27   The New York Stock Exchange 1.625% Senior Notes due 2030   FI30   The New York Stock Exchange 2.250% Senior Notes due 2025   FI25   The New York Stock Exchange 3.000% Senior Notes due 2031   FI31   The New York Stock Exchange 4.500% Senior Notes due 2031   FI31A   The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to u