Summary
NIKE, Inc. has filed an 8-K report detailing the completion of a significant debt financing event. On August 16, 2001, the company successfully closed an underwritten offering of $250,000,000 in aggregate principal amount of 5.5% Notes due 2006. This offering was conducted under an existing shelf registration statement filed with the SEC, utilizing a prospectus supplement dated August 14, 2001. This issuance of long-term debt indicates that NIKE is likely securing capital for operational needs, potential expansion, or strategic initiatives. Investors should note the specific terms of the notes, including the interest rate and maturity date, as they impact the company's future financial obligations and leverage. The underwriters involved, led by Salomon Smith Barney Inc., Banc of America Securities LLC, and Merrill Lynch & Co., suggest a robust market reception for NIKE's debt.
Key Highlights
- 1NIKE, Inc. completed an underwritten offering of $250 million in aggregate principal amount of 5.5% Notes due 2006.
- 2The debt offering closed on August 16, 2001.
- 3The issuance was made under an existing Form S-3 Registration Statement.
- 4A Prospectus Supplement dated August 14, 2001, was used for the offer and sale of the Notes.
- 5The offering was underwritten by Salomon Smith Barney Inc., Banc of America Securities LLC, and Merrill Lynch & Co.
- 6The terms of the Notes are detailed in an Indenture dated December 13, 1996, with Bank One Trust Company, National Association as trustee.