This move comes amid a mixed market backdrop, with the Nasdaq showing slight gains while the S&P 500 is nearly flat.Move To Refinance DebtThe company is offering to buy back all of its $750 million 5.150% senior notes due 2027 and $2.0 billion 4.400% senior notes due 2049.The tender offers are set to expire at 5:00 p.m. New York time on June 23, 2026, unless extended or terminated earlier, with holders allowed to withdraw their submissions prior to the deadline.The company expects the settlement on June 26, 2026, when Fiserv plans to purchase all validly tendered and accepted notes, subject to customary conditions.How Will Fiserv Retire The Debt?As of the first quarter of 2026, Fiserv had $2.25 billion in cash and equivalents on its balance sheet.Fiserv said that the transaction is contingent on the successful completion of a planned euro-denominated senior note issuance, though it does not require a minimum participation level in the tender offers.Investors whose notes are accepted will receive a Treasury-based pricing consideration along with accrued and unpaid interest through the settlement date.It means that Fiserv is refinancing some short-term and long-term U.S. dollar-denominated debt by a planned issue of Euro-denominated debt.This occurrence is generally done to take advantage of the currency and interest rate arbitrage.Fiserv CEO Abruptly ExitsThe refinancing move comes amid significant internal change at Fiserv.On Monday, Fiserv said Takis Georgakopoulos was appointed chief executive officer and a member of the board, effective immediately. He succeeds Mike Lyons, who stepped down from the position following pressure from activist investor Jana Partners.Despite the leadership change, Fiserv reaffirmed its 2026 guidance issued on May 5. The company continues to expect organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30.Based on the 13-F filing from May 15, activist investor Jana partners have raised their stake in Fiserv.The abrupt CEO exit and refinancing move came shortly after activist investor Jana Partners raised their stake.Fiserv Earnings Preview And Analyst Price TargetsFiserv is slated to provide its next financial update on July 22, 2026 (estimated).