8-KOther EventsExhibits & Filings

DOVER Corp 8-K Report, Corporate Update (Feb 22, 2011)

Filed February 22, 2011For Securities:DOV

Summary

Dover Corporation (DOV) filed an 8-K on February 22, 2011, to report on its issuance of new senior unsecured debt. The company issued $450 million in 4.300% notes due 2021 and $350 million in 5.375% notes due 2041, totaling $800 million in aggregate principal amount. These notes are governed by an indenture and will rank equally with Dover's existing senior unsecured debt. The issuance was facilitated through underwriting agreements with prominent financial institutions, including Goldman, Sachs & Co., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated. The offering was made pursuant to a Registration Statement on Form S-3 and related prospectus supplements, providing detailed terms and conditions to potential investors. The company also filed an opinion from its Vice President, General Counsel, and Secretary regarding the legality of the notes.

Key Highlights

  • 1Dover Corporation issued $450 million of 4.300% notes due 2021.
  • 2Dover Corporation issued $350 million of 5.375% notes due 2041.
  • 3The total aggregate principal amount of the new notes issued is $800 million.
  • 4The notes are senior unsecured debt obligations, ranking pari passu with other senior unsecured indebtedness.
  • 5The issuance was conducted under a Registration Statement on Form S-3, indicating it was a public offering.
  • 6Key underwriters included Goldman, Sachs & Co., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
  • 7Interest payments on the notes are semi-annual, due March 1 and September 1, commencing September 1, 2011.

Frequently Asked Questions

This 8-K filing announces Dover Corporation's intent to issue new debt securities, specifically $450 million in 4.300% notes due 2021 and $350 million in 5.375% notes due 2041. It provides details about the terms, the underwriters involved, and the legal framework for the offering.

The 2021 Notes carry a coupon rate of 4.300% and mature on March 1, 2021. The 2041 Notes have a coupon rate of 5.375% and mature on March 1, 2041.

The newly issued notes are senior unsecured debt obligations of Dover Corporation. They will rank on parity (pari passu) with all of the company's other existing senior unsecured indebtedness.

Yes, the notes were offered pursuant to Dover Corporation's Registration Statement on Form S-3, which is typically used for public offerings of securities.