By Rebecca Melvin
Concord, N.H., Sept. 8 – Amphenol Corp. priced $750 million 10-year senior notes with a 2.2% coupon at 99.634 to yield 2.241%, or 87 basis points over Treasuries, on Tuesday, according to a term sheet filed with the Securities and Exchange Commission.
The notes (expected ratings: Baa1/BBB+) priced tight to talk for a spread in the Treasuries plus 110 bps area.
The notes have a make-whole call and a par call. The company must offer to repurchase the notes at 101 if a change-of-control repurchase event happens.
Citigroup Global Markets Inc., MUFG, TD Securities (USA) LLC, Barclays, BofA Securities Inc. and J.P. Morgan Securities LLC were the joint bookrunning mangers.
Bank of New York Mellon is the trustee.
Latham & Watkins LLP is advising the issuer.
Proceeds will be used to repay borrowings under the company’s U.S. commercial paper program.
The designer, manufacturer and marketer of electric, electronic and fiber optic components is based in Wallingford, Conn.
| Issuer: | Amphenol Corp.
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| Amount: | $750 million
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| Description: | Senior notes
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| Maturity: | Sept. 15, 2031
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| Bookrunners: | Citigroup Global Markets Inc., MUFG, TD Securities (USA) LLC, Barclays, BofA Securities Inc. and J.P. Morgan Securities LLC
|
| Co-managers: | BNP Paribas Securities Corp., Commerz Markets LLC, HSBC Securities (USA) Inc., Mizuho Securities USA LLC, Siebert Williams Shank & Co. LLC and U.S. Bancorp Investments Inc.
|
| Coupon: | 2.2%
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| Price: | 99.643
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| Yield: | 2.241%
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| Spread: | Treasuries plus 87 bps
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| Call features: | Make-whole call at Treasuries plus 15 bps before June 15, 2031; thereafter at par
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| Trade date: | Sept. 7
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| Settlement date: | Sept. 14
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| Ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 110 bps area
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| Cusip: | 032095AL5
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