Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it had commenced a public offering of its U.S. dollar-denominated senior notes, subject to market and other 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.
The offering is being made only by means of a prospectus supplement and accompanying prospectus, which are part of a shelf registration statement that Fiserv has filed with the Securities and Exchange Commission, copies of which may be obtained by contacting J.P. Morgan Securities LLC collect at +1-212-834-4533, Citigroup Global Markets Inc. toll-free at +1-800-831-9146, or Wells Fargo Securities, LLC toll-free at +1-800-645-3751 or by email to wfscustomerservice@wellsfargo.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.