Fiserv to pay down revolver debt and term loans via new notes issue

By Susanna Moon

Chicago, Sept. 20 – Fiserv, Inc. plans to repay debt under its revolving credit facility and term loan using proceeds of new notes to be issued in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

As of June 30, the company had revolving credit facility borrowings of $974 million with interest at 3.08% that mature in April 2020 and term loan borrowings of $540 million with interest at 3.34% and the remaining principal balance due in October, the filing noted.

Proceeds of the new notes will also be used to fund the company’s tender offer for its $450 million principal amount of 4.625% senior notes due 2020, which will run until 5 p.m. ET on Sept. 26.

The purchase price will be $1,028.92 for each $1,000 principal amount plus accrued interest to but excluding the payment date of Oct. 1, according to a company announcement.

Any remaining proceeds will be used for general corporate purposes.

The financial services technology company is based in Brookfield, Wis.

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