Summary
Flex Ltd. (FLEX) filed an 8-K on November 7, 2019, to report the closing of a debt offering. The company successfully sold $200 million aggregate principal amount of its 4.875% Notes due 2029. This issuance represents a "further issuance" and will be consolidated with the $450 million of the same notes previously issued in June 2019, bringing the total outstanding principal for this note series to $650 million. This debt offering, registered under a shelf registration statement, was completed on November 7, 2019, following an underwriting agreement entered into on October 31, 2019. The proceeds from this issuance are not explicitly stated in this filing but are generally used for general corporate purposes or specific strategic initiatives. Investors should note that this filing primarily concerns the transaction details and legal documentation related to the debt issuance, not the company's operational or financial performance.
Key Highlights
- 1Flex Ltd. closed a debt offering of $200 million in aggregate principal amount of 4.875% Notes due 2029 on November 7, 2019.
- 2These notes will be consolidated with and form a single series with the $450 million of the same notes previously issued on June 6, 2019.
- 3The total aggregate principal amount of the 4.875% Notes due 2029 now outstanding is $650 million.
- 4The offering was conducted under Flex Ltd.'s shelf registration statement filed on Form S-3.
- 5An underwriting agreement was entered into on October 31, 2019, with J.P. Morgan Securities LLC, Citigroup Global Markets Inc., and U.S. Bancorp Investments, Inc. acting as representatives for the underwriters.
- 6The issuance of the notes was governed by an Indenture dated June 6, 2019, as supplemented by a Second Supplemental Indenture dated November 7, 2019.