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.
Frequently Asked Questions
The primary purpose of issuing these notes was to repay amounts outstanding under Amphenol Corporation's revolving credit facility, indicating a debt refinancing or liquidity management initiative.
The Senior Notes carry a fixed interest rate of 2.55% per year and mature on January 30, 2019. Interest payments are made semi-annually.
No, the Senior Notes are unsecured and rank equally in right of payment with Amphenol Corporation's other unsecured senior indebtedness.
Yes, Amphenol Corporation has the option to redeem some or all of the notes prior to maturity. Before December 30, 2018, a make-whole premium applies; on or after December 30, 2018, they can be redeemed at 100% of the principal amount plus accrued interest.