Fiserv prices $9 billion senior notes offering

Fiserv, Inc., a leading global provider of financial services technology solutions, announced that it has priced a public offering of $9 billion aggregate principal amount of senior notes, consisting of the following:

The offering is expected to close June 24, 2019, subject to customary closing conditions. The offering is being conducted in connection with the previously announced proposed acquisition of First Data Corporation, which is currently expected to close in the second half of calendar year 2019, subject to customary closing conditions (the merger). Fiserv intends to use the net proceeds from this and potential future offerings of securities, together with borrowings under its term loan facility and revolving credit facility, to refinance certain outstanding indebtedness of First Data, make cash payments in lieu of fractional shares as part of the merger consideration, and pay fees and expenses related to the merger, the refinancing, and the related transactions. Fiserv intends to use any remaining net proceeds for general corporate purposes. Pending such uses, Fiserv may invest the net proceeds from the offering temporarily in investment grade securities, money market funds, bank deposit accounts or similar short-term investments, or use such net proceeds to repay outstanding borrowings under its revolving credit facility.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are the joint book-running managers for the offering.


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