Summary
Amphenol Corporation (APH) announced on January 26, 2012, the successful issuance and sale of $500 million in aggregate principal amount of 4.000% Senior Notes due 2022. This offering was conducted through an underwritten public offering, with net proceeds of approximately $494.6 million after deducting underwriting discounts and estimated expenses. The primary purpose of this debt issuance is to repay outstanding amounts under the Company's revolving credit facility. The Notes mature on February 1, 2022, and bear a semi-annual interest rate of 4.000%. While unsecured, these Notes rank equally with other unsecured senior indebtedness of Amphenol. The net proceeds will strengthen the company's liquidity and reduce its reliance on its credit facility.
Key Highlights
- 1Issued $500 million in 4.000% Senior Notes due 2022.
- 2Net proceeds of approximately $494.6 million received from the offering.
- 3Proceeds intended to repay outstanding amounts under the revolving credit facility.
- 4Notes mature on February 1, 2022.
- 5Interest rate is 4.000% per year, payable semi-annually.
- 6Notes are unsecured and rank equally with other unsecured senior indebtedness.
- 7Offering was conducted as an underwritten public offering with major underwriters including Barclays Capital Inc., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC.