Global financial services technology solutions provider Fiserv is seeking to raise around $1 billion in a two part sale of senior notes. The sale consists of $600 million securities due in 2016, carrying a coupon rate of 3.12%, while the second tranche includes bonds costing $400 million, carrying 4.75% of coupon rate and due to mature in 2021.
The firm intends to use the proceeds from the offering to fund a tender offer of its $1 billion, 6.125% senior notes due 2012 and for general corporate purposes. JP Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith, Mitsubishi UFJ Securities (USA) and SunTrust Robinson Humphrey have been named as joint book-running managers for the sale.
