New Issue: Agilent Technologies prices $850 million of 2.3% 10-year notes at 85 bps spread

By Wendy Van Sickle

Columbus, Ohio, March 3 – Agilent Technologies, Inc. sold $850 million of 2.3% 10-year senior notes (Baa2/BBB+/BBB+) on Wednesday at 99.822 to yield 2.32%, or a spread of 85 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The proceeds of the offering will be used to fund the redemption of the company’s 3.2% senior notes due 2022, to pay down borrowings under its commercial paper program and for general corporate purposes.

Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp. and MUFG are acting as joint bookrunning managers of the deal.

The bio-analytic and electronic measurement technology company is based in Santa Clara, Calif.

Issuer:	Agilent Technologies, Inc.
Amount:	$850 million
Description:	Senior notes
Maturity:	March 12, 2031
Bookrunners:	Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp. and MUFG
Co-managers:	Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., KeyBanc Capital Markets Inc. and Penserra Securities LLC
Coupon:	2.3%
Price:	99.822
Yield:	2.32%
Spread:	Treasuries plus 85 bps
Call features:	Make-whole call before Dec. 12, 2030 at greater of par and Treasuries plus 15 bps; thereafter at par
Trade date:	March 3
Settlement date:	March 12
Ratings:	Moody’s: Baa2
	S&P: BBB+
	Fitch: BBB+
Distribution:	SEC registered

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