Summary
The primary purpose of this debt issuance is to repay outstanding borrowings under Amphenol's revolving credit facility. This move indicates a refinancing strategy, likely aimed at optimizing the company's debt structure, potentially securing more favorable terms, or managing its liquidity. The Notes are unsecured, rank equally with other senior unsecured indebtedness, and carry a fixed interest rate of 2.55%, with semi-annual interest payments. The maturity date is set for January 30, 2019, with provisions for early redemption at the company's option under specified conditions, including a make-whole premium before a certain date.
Key Highlights
- 1Amphenol Corporation issued and sold $750,000,000 in aggregate principal amount of 2.55% Senior Notes due 2019.
- 2Net proceeds from the offering were approximately $743.1 million, after underwriting discounts and estimated expenses.
- 3The net proceeds are intended to repay amounts outstanding under the company's revolving credit facility.
- 4The Notes bear a fixed interest rate of 2.55% per annum, payable semi-annually.
- 5The Notes mature on January 30, 2019.
- 6The Notes are unsecured and rank equally with other unsecured senior indebtedness.
- 7The company has the option to redeem the Notes prior to maturity under specified terms and conditions, including a make-whole premium.