By Andrea Heisinger
New York, Sept. 10 - Agilent Technologies, Inc. sold $400 million of 3.2% 10-year senior notes on Monday to yield Treasuries plus 155 basis points, a source close to the trade said.
The notes (Baa2/BBB+/BBB+) were sold tighter than talk in the 190 bps area. They were priced at 99.802 to yield 3.223%.
There is a make-whole call at 25 bps over Treasuries until July 1, 2022, with a par call after that date. The deal also features a change-of-control put at 101%.
Bookrunners were Bank of America Merrill Lynch, Barclays and J.P. Morgan Securities LLC.
Proceeds will be used for general corporate purposes, including repayment of senior notes due on Sept. 14.
The bio-analytic and electronic measurement technology company is based in Santa Clara, Calif.
| Issuer: | Agilent Technologies, Inc.
|
| Issue: | Senior notes
|
| Amount: | $400 million
|
| Maturity: | Oct. 1, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC
|
| Senior co-manager: | BNP Paribas Securities Corp.
|
| Co-managers: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Wells Fargo Securities LLC
|
| Coupon: | 3.2%
|
| Price: | 99.802
|
| Yield: | 3.223%
|
| Spread: | Treasuries plus 155 bps
|
| Call: | Make-whole at Treasuries plus 25 bps until July 1, 2022, par call after
|
| Change-of-control put: | 101%
|
| Trade date: | Sept. 10
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Price talk: | 190 bps area
|
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