Published on 9/15/2016 in the Prospect News Investment Grade Daily.
New Issue: Agilent Technologies prints $300 million 3.05% 10-year notes with 140 bps spread
By Cristal Cody
Eureka Springs, Ark., Sept. 15 – Agilent Technologies, Inc. sold $300 million of 3.05% 10-year senior notes with a spread of 140 basis points over Treasuries on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The notes (/BBB+/BBB+) priced at 99.624 to yield 3.094%.
BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC were the bookrunners.
Proceeds will be used to repay debt under a revolving credit facility due Sept. 15, 2019 and for general corporate purposes. As of July 31, the company had $236 million outstanding on the revolver.
The bio-analytic and electronic measurement technology company is based in Santa Clara, Calif.
Issuer: | Agilent Technologies, Inc.
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Amount: | $300 million
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Description: | Senior notes
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Maturity: | Sept. 22, 2026
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Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC
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Co-managers: | Barclays, HSBC Securities (USA) Inc., Lloyds Securities Inc., Wells Fargo Securities LLC
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Coupon: | 3.05%
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Price: | 99.624
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Yield: | 3.094%
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Spread: | Treasuries plus 140 bps
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Call features: | Make-whole call before June 22, 2026 at greater of par and Treasuries plus 25 bps; on or after June 22, 2026 at par
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Trade date: | Sept. 15
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Settlement date: | Sept. 22
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Ratings: | S&P: BBB+
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| Fitch: BBB+
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Distribution: | SEC registered
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