8-KOther EventsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Corporate Update (Oct 23, 2007)

Filed October 23, 2007For Securities:A

Summary

Agilent Technologies, Inc. (Agilent) filed a Form 8-K on October 23, 2007, reporting an amendment to its Master Repurchase Agreement and related agreements, originally entered into on January 27, 2006. The primary purpose of this amendment, executed on September 10, 2007, was to substitute Ebbets Funding PLC as the counterparty in place of Fenway Capital, LLC, at the request of Merrill Lynch Capital Corporation. This transaction involves Agilent Technologies World Trade, Inc. (a wholly-owned subsidiary) selling 15,000 Class A Preferred Shares of another subsidiary, Agilent Technologies (Cayco) Limited, to the counterparty for $1.5 billion. Importantly, the filing states that the material terms of the repurchase transaction remain unchanged. This update is primarily a change in the financial counterparty involved in the existing $1.5 billion repurchase agreement, not a change in the fundamental terms or the principal amount of the deal itself.

Key Highlights

  • 1Agilent Technologies amended its Master Repurchase Agreement and related agreements on September 10, 2007.
  • 2The amendment primarily involved substituting Ebbets Funding PLC for Fenway Capital, LLC as the counterparty.
  • 3The original transaction, dated January 27, 2006, involved a $1.5 billion repurchase agreement.
  • 4Agilent Technologies World Trade, Inc. sold preferred shares of a subsidiary to the counterparty.
  • 5The material terms of the repurchase agreement remain unchanged following the amendment.
  • 6The change in counterparty was made at the request of Merrill Lynch Capital Corporation.

Frequently Asked Questions

The main purpose was to report an amendment to Agilent's Master Repurchase Agreement and related agreements, specifically to change the financial counterparty from Fenway Capital, LLC to Ebbets Funding PLC.

No, the filing explicitly states that the material terms of the repurchase transaction remained unchanged. Only the identity of the counterparty was altered.

For Agilent, this appears to be a procedural change at the request of Merrill Lynch Capital Corporation. The underlying financial transaction and its terms remain the same, suggesting no immediate material impact on Agilent's operations or financial standing related to this specific agreement.

The original agreement involved the sale of 15,000 Class A Preferred Shares of Agilent Technologies (Cayco) Limited, a wholly-owned subsidiary of Agilent, to the counterparty for $1.5 billion.