Fidelity National Information Services announced the issuance of senior notes denominated in both Euro and U.S. dollars, structured in multiple tranches. The net proceeds will be used to repay short‑term debt that was incurred to finance the acquisition of Global Payments’ Issuer Solutions business, and any remaining funds will reduce borrowings under its commercial paper program.
The acquisition of Global Payments’ Issuer Solutions business closed on January 13, 2026, with an enterprise value of $13.5 billion and a net purchase price of $12 billion. By replacing short‑term debt with longer‑term senior notes, FIS aims to improve its debt maturity profile, maintain investment‑grade leverage, and preserve liquidity for ongoing operations and future growth initiatives.
FIS carries total debt of $13.08 billion and a debt‑to‑equity ratio of 0.94. The acquisition increased pro‑forma gross leverage to approximately 3.4×; the company targets a gross leverage ratio of 2.8× within 18 months. The new notes help move toward that deleveraging goal while keeping leverage investment‑grade.
Management highlighted the strategic fit of the acquisition and the role of the refinancing in supporting future growth. CEO Stephanie Ferris said, "We are pleased to have closed this strategic acquisition ahead of schedule, enabling us to start 2026 in a strong position to deliver greater value to our financial institution and corporate clients. We're looking forward to capitalizing on the unique opportunities this acquisition brings to our Banking and Payments business and building momentum through the year."
The refinancing aligns with FIS’s broader strategy to pause share repurchases and further M&A, focus on deleveraging, and invest in artificial intelligence, positioning the company for long‑term value creation.
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