By Cristal Cody
Tupelo, Miss., June 1 – Agilent Technologies, Inc. sold $500 million of 2.1% 10-year senior notes (Baa2/BBB+/BBB+) on Monday at 99.812 to yield 2.121%, or a spread of 145 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk at the Treasuries plus 170 bps area.
BofA Securities Inc., Mizuho Securities USA Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to repay debt under a term loan facility and for general corporate purposes.
The bio-analytic and electronic measurement technology company is based in Santa Clara, Calif.
| Issuer: | Agilent Technologies, Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | June 4, 2030
|
| Bookrunners: | BofA Securities Inc., Mizuho Securities USA Inc. and Wells Fargo Securities LLC
|
| Co-managers: | Academy Securities Inc., HSBC Securities (USA) Inc., KeyBanc Capital Markets Inc. and Penserra Securities LLC
|
| Coupon: | 2.1%
|
| Price: | 99.812
|
| Yield: | 2.121%
|
| Spread: | Treasuries plus 145 bps
|
| Call features: | Make-whole call before March 4, 2030 at greater of par and Treasuries plus 25 bps; thereafter at par
|
| Trade date: | June 1
|
| Settlement date: | June 4
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 170 bps area
|
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