Summary
Agilent Technologies, Inc. has announced the successful completion of an underwritten public offering of $400 million in aggregate principal amount of 3.20% Senior Notes due 2022. The notes were issued at a price of 99.802% of their principal amount, yielding a fixed interest rate of 3.20% per annum, payable semi-annually. This offering represents a material definitive agreement and a direct financial obligation for the company, aiming to bolster its capital structure.
Key Highlights
- 1Agilent Technologies Inc. issued $400 million in 3.20% Senior Notes due 2022.
- 2The offering was an underwritten public offering completed on September 10, 2012.
- 3The notes were issued at a price of 99.802% of their principal amount.
- 4The notes mature on October 1, 2022, with semi-annual interest payments.
- 5The notes are unsecured and rank equally with other senior unsecured indebtedness.
- 6The company has the option to redeem the notes early under specific conditions and pricing.
- 7A 'Change of Control' event may trigger a mandatory repurchase offer at 101% of the principal amount if ratings fall below investment grade.
Frequently Asked Questions
This Form 8-K filing reports the entry into a material definitive agreement regarding the issuance of new debt, specifically $400 million of 3.20% Senior Notes due 2022.
The notes have a principal amount of $400 million, mature on October 1, 2022, bear a fixed interest rate of 3.20% payable semi-annually, and were issued at 99.802% of par. They are unsecured and rank equally with other senior unsecured debt.
Agilent can redeem the notes at its option before July 1, 2022, at a price based on the present value of remaining payments discounted at the Treasury Rate plus 25 basis points, or 100% of principal if redeemed on or after July 1, 2022. Special provisions exist for redemption upon a Change of Control.
If a 'Change of Control' occurs and results in the notes being downgraded below investment grade by all three major rating agencies (Fitch, Moody's, S&P), Agilent will be required to offer to repurchase the notes at 101% of their principal amount.