Fiserv, Inc. Form 8-K Summary
Business Context and Reporting Period
Company: Fiserv, Inc.
Filing Date: May 7, 2025
Event: Closing of a public offering of Euro-denominated senior notes by Fiserv Funding Unlimited Company, an indirect, wholly owned subsidiary of Fiserv, Inc.
Key Financial Metrics and Debt Structure
The filing details the issuance of three series of senior notes, fully and unconditionally guaranteed on a senior unsecured basis by Fiserv, Inc. The aggregate principal amount raised is €2,175,000,000.
| Note Series | Principal Amount (EUR) | Coupon Rate | Maturity Date | Interest Payment Date |
|---|---|---|---|---|
| 2028 Notes | €750,000,000 | 2.875% | June 15, 2028 | June 15 (annually) |
| 2032 Notes | €775,000,000 | 3.500% | June 15, 2032 | June 15 (annually) |
| 2036 Notes | €650,000,000 | 4.000% | June 15, 2036 | June 15 (annually) |
Revenue, Profit, and Cash Flow: This filing does not provide revenue, profit, cash flow, margin, or liquidity metrics. It is a current report regarding a specific financing event.
Material Changes and Terms
- Redemption Rights: Prior to specific "par call dates" (May 15, 2028; March 15, 2032; March 15, 2036), the issuer may redeem notes at a price equal to the greater of 100% of principal or the present value of remaining payments discounted at the Comparable Government Bond Rate plus a spread (20 bps for 2028 Notes; 25 bps for 2032 and 2036 Notes).
- Change of Control: The issuer is required to offer to repurchase the notes at 101% of the aggregate principal amount plus accrued interest upon a change of control triggering event.
- Events of Default: Includes customary events. If an event of default occurs, the Trustee or holders of at least 25% of the principal amount may declare the notes due and payable immediately.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or management commentary regarding operational performance.
Risks and Contingencies: The primary risk disclosed relates to the debt obligations created by this offering, including the obligation to make interest payments and the potential for mandatory repurchase in the event of a change of control. The notes are subject to customary events of default.
Investor Verification Checklist
- Verify the exchange rate impact of the €2.175 billion principal amount on the company's total debt load in USD.
- Review the full text of the Supplemental Indentures (Exhibits 4.1, 4.2, 4.3) for specific covenants and definitions of "Change of Control Triggering Event."
- Confirm the use of proceeds for this offering, which is not explicitly detailed in this summary text.
- Assess the impact of the new interest rate obligations (2.875% to 4.000%) on the company's future interest coverage ratios.