Trimble to repay interim loans, buyout debt via notes due 2023, 2028

By Susanna Moon

Chicago, June 7 – Trimble Inc. plans to repay debt under its 2018 interim credit facility as well as acquisition debt using some proceeds of a new issue of notes, according to a 424B5 filing with the Securities and Exchange Commission.

The company plans to price fixed-rate senior notes in two parts due 2023 and 2028, with proceeds also to be used to help fund the company’s planned acquisition of Viewpoint, Inc. as well as other debt, which includes that of Viewpoint, the filing noted.

Viewpoint’s $294.5 million of credit facilities mature on July 21, 2024 and July 21, 2025, and interest on those loans is Libor plus 425 basis points and Libor plus 825 bps, respectively, the filing said.

Trimble is a Sunnyvale, Calif., technology company.

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