Trimble Navigation set to price $350 million 10-year notes Wednesday

By Aleesia Forni

Virginia Beach, Nov. 19 – Trimble Navigation Ltd. plans to price a $350 million offering of senior notes (Baa2) due 2024 on Wednesday, according to an informed source and a 424B5 filed with the Securities and Exchange Commission.

BofA Merrill Lynch and J.P. Morgan Securities LLC are the bookrunners.

The notes will feature a change-of-control put at 101% and a make-whole call three months prior to maturity.

Proceeds will be used to refinance the company’s term loan and for general corporate purposes.

Trimble is a Sunnyvale, Calif., technology company.

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