Summary
Keysight Technologies, Inc. (KEYS) announced on October 9, 2024, the issuance of $600 million in aggregate principal amount of 4.950% Notes due 2034. This debt offering was made under an effective shelf registration statement and was underwritten by major financial institutions. The primary use of the net proceeds is to refinance $600 million of existing 4.550% Senior Notes that mature on October 30, 2024, indicating a proactive approach to managing its debt obligations and potentially extending its debt maturity profile.
Key Highlights
- 1Issuance of $600 million in 4.950% Senior Notes due 2034.
- 2Proceeds intended to refinance $600 million of 4.550% Senior Notes maturing October 30, 2024.
- 3Notes are unsecured, unsubordinated obligations ranking equally with other senior unsecured debt.
- 4Maturity date set for October 15, 2034.
- 5Semi-annual interest payments of 4.950% per annum, payable on April 15 and October 15.
- 6Company has the option to redeem the notes under specific conditions, with a "Par Call Date" three months prior to maturity.
- 7Change of control provisions trigger a repurchase offer at 101% of principal plus accrued interest.