Chicago, Sept. 12 – Intuit Inc. priced $4 billion of senior notes in a four-part offering on Tuesday, according to a press release.
The company priced $750 million of 5.25% notes due 2026, $750 million of 5.125% notes due 2028, $1.25 billion of 5.2% notes due 2033 and $1.25 billion of 5.5% notes due 2053.
There will be make-whole call provisions and par call provisions.
BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.
Proceeds will be used to repay amounts outstanding under Intuit’s term loan.
Intuit is a Mountain View, Calif.-based company that provides financial management, compliance and marketing products and services to small businesses and consumers.
| Issuer: | Intuit Inc.
|
| Amount: | $4 billion
|
| Issue: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Trustee: | U.S. Bank Trust Co., NA
|
| Counsel to issuer: | Gibson, Dunn & Crutcher LLP
|
| Counsel to underwriters: | Davis Polk & Wardwell LLP
|
| Trade date: | Sept. 12
|
| Settlement date: | Sept. 15
|
| Distribution: | SEC registered
|
|
|
| 2026 notes
|
| Amount: | $750 million
|
| Maturity: | 2026
|
| Coupon: | 5.25%
|
|
|
| 2028 notes
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| Amount: | $750 million
|
| Maturity: | 2028
|
| Coupon: | 5.125%
|
|
|
| 2033 notes
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| Amount: | $1.25 billion
|
| Maturity: | 2033
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| Coupon: | 5.2%
|
|
|
| 2053 notes
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| Amount: | $1.25 billion
|
| Maturity: | 2053
|
| Coupon: | 5.5%
|
|
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