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Keysight Technologies, Inc. 8-K Report, Financial Obligation (Apr 17, 2025)

Reports
Financial Events·Other Events·Exhibits & Filings
Filing Date
Filed April 17, 2025
Period End
April 17, 2025
Security
KEYS
In the record · 2016–202610-K1110-Q338-K96

KEYS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 96 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Apr ’17Apr ’17
  2. Leadership change8-K · May ’22May ’22
  3. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed April 17, 2025. Cited figures are marked; the original filing is the authoritative source.

Keysight Technologies, Inc. (KEYS) has announced the issuance of $750 milliona in aggregate principal amount of 5.350% Notes due 2030.

This debt offering, registered under a shelf registration statement, is intended for general corporate purposes and may partially fund the proposed acquisition of Spirent Communications plc. The Notes are unsecured, unsubordinated obligations of the company, ranking equally with other existing and future unsecured debt, including their senior revolving credit facility and bridge loan facility. They bear a fixed interest rate of 5.350%b per annum, payable semi-annually, with maturity in July 2030.

Investors should note the details regarding the company's redemption options and a change of control provision. Keysight can redeem the Notes, with specific call protection until one month prior to maturity, at a premium if redeemed before June 30, 2030.

Additionally, in the event of a change of control, the company must offer to repurchase the Notes at 101%c of their principal amount. The indenture also includes customary limitations on liens, sale and leaseback transactions, and fundamental corporate changes, along with standard events of default.

02—Key points

Key Highlights

  1. Keysight Technologies issued $750 million in aggregate principal amount of 5.350% Notes due 2030.
  2. Proceeds are designated for general corporate purposes, potentially including financing the Spirent Communications acquisition.
  3. The Notes mature on July 30, 2030, with a fixed coupon of 5.350% per annum.
  4. Interest payments are semi-annual, due on January 30 and July 30, with the first payment on January 30, 2026.
  5. The Notes are unsecured and unsubordinated debt.
  6. Keysight has the option to redeem the Notes early, with a call protection period until June 30, 2030, after which redemption occurs at par plus accrued interest.
  7. A change of control event triggers an offer to repurchase the Notes at 101% of the principal amount.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this $750 million note issuance?

    Keysight Technologies intends to use the net proceeds from the sale of these Notes for general corporate purposes. A significant portion may be allocated to partially finance the proposed acquisition of Spirent Communications plc.

  2. What is the interest rate and maturity date of these new Notes?

    The Notes carry a fixed interest rate of 5.350% per annum, payable semi-annually. The maturity date for these Notes is July 30, 2030.

  3. Are these Notes secured or unsecured?

    The Notes are unsecured and unsubordinated obligations of Keysight Technologies, meaning they rank equally in right of payment with all existing and future unsecured and unsubordinated debt of the company.

  4. What happens if there is a change of control at Keysight?

    In the event of certain change of control events, Keysight will be required to make an offer to repurchase the Notes from holders at a price equal to 101% of their principal amount, plus any accrued and unpaid interest.

04—Continue

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