By Marisa Wong and Cristal Cody
Los Angeles, March 27 – Amphenol Corp. priced $350 million of 4.75% three-year senior notes (A3/BBB+) on Monday, according to an FWP filing with the Securities and Exchange Commission and details from a market source.
The notes priced at 99.658 to yield 4.874%, or with a spread of 107 basis points over Treasuries.
Price talk was in the Treasuries plus 145 bps area.
The notes have a make-whole call option. The company must also offer to repurchase the notes at 101 if a change-of-control repurchase event happens, according to a previously filed 424B3 with the SEC.
BNP Paribas Securities Corp., BofA Securities, Inc., J.P. Morgan Securities LLC, Barclays, HSBC Securities (USA) Inc., Mizuho Securities USA LLC and TD Securities (USA) LLC are the joint bookrunners.
Proceeds will be used to repay borrowings under the company’s U.S. commercial paper program. As of Dec. 31, Amphenol had $632.8 million of the notes outstanding, with a volume weighted average interest rate of 4.69%.
The designer, manufacturer and marketer of electric, electronic and fiber optic components is based in Wallingford, Conn.
| Issuer: | Amphenol Corp.
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| Amount: | $350 million
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| Issue: | Senior notes
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| Maturity: | March 30, 2026
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| Bookrunners: | BNP Paribas Securities Corp., BofA Securities, Inc., J.P. Morgan Securities LLC, Barclays, HSBC Securities (USA) Inc., Mizuho Securities USA LLC and TD Securities (USA) LLC
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| Co-managers: | Citigroup Global Markets Inc., Commerz Markets LLC, Loop Capital Markets LLC, MUFG Securities Americas Inc., Siebert Williams Shank & Co., LLC and U.S. Bancorp Investments, Inc.
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| Trustee: | U.S. Bank Trust Co., NA
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| Counsel to issuer: | Latham & Watkins LLP
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| Counsel to underwriters: | Simpson Thacher & Bartlett LLP
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| Coupon: | 4.75%
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| Price: | 99.658
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| Yield: | 4.874%
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| Spread: | Treasuries plus 107 bps
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| Call option: | Make-whole call at Treasuries plus 20 bps
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| Put option: | At 101 upon change of control
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| Trade date: | March 27
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| Settlement date: | March 30
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| Ratings: | Moody’s: A3
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| S&P: BBB+
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 145 bps area
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| Cusip: | 032095AM3
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