New Issue: Keysight sells $500 million 3% 10-year bond at Treasuries plus 145 bps

By Devika Patel

Knoxville, Tenn., Oct. 7 – Keysight Technologies Inc. priced $500 million of 3% 10-year notes (Baa2/BBB/BBB) at a spread of 145 basis points over Treasuries on Monday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.914 to yield 3.01%.

BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the bookrunners.

Proceeds will be used to repay the company's $500 million of 3.3% senior notes due Oct. 30, 2019.

Keysight is a Santa Rosa, Calif.-based electronic measurement technology company.

Issuer:	Keysight Technologies Inc.
Amount:	$500 million
Securities:	Notes
Maturity:	Oct. 30, 2029
Bookrunners:	BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc.
Coupon:	3%
Price:	99.914
Yield:	3.01%
Spread:	Treasuries plus 145 bps
Call features:	Make-whole call at Treasuries plus 25 bps until July 30, 2029; thereafter at par
Put:	Change-of-control put at 101
Trade date:	Oct. 7
Settlement date:	Oct. 22
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered

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