Fiserv Repurchases $1.33 Billion in Senior Notes, Falling Short of $2.75 Billion Tender Offer Target
Summary
Fiserv announced the results of its tender offers, accepting approximately $1.33 billion in outstanding 2027 and 2049 senior notes. This follows the company's June 16th announcement of a tender offer targeting up to $2.75 billion in debt. The accepted amount is less than half of the initial target, indicating lower-than-expected participation in the debt repurchase. This outcome impacts the company's debt management strategy and overall financing structure. The settlement for the accepted notes is expected on June 26th.
At the time of this announcement, FISV was trading at $47.30 on NASDAQ in the Technology sector, with a market capitalization of approximately $25.2B. The 52-week trading range was $47.04 to $177.36. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.