Amphenol gives final results of tender offer for 3.125%, 4% notes

By Sarah Lizee

Olympia, Wash., Sept. 11 – Amphenol Corp. announced the final results of its tender offer to purchase for cash any and all of its $375 million 3.125% senior notes due 2021 and $500 million 4% senior notes due 2022.

As of the expiration time of 5 p.m. ET on Sept. 10, the company received valid tenders for $147,265,000, or 39.27%, of the 3.125% notes, and $204,998,000, or 41%, of the 4% notes. This excludes the $4,000 of 3.125% notes and $559,000 of 4% notes that remain subject to guaranteed delivery procedures.

The company said it expects to accept all notes tendered in the offer.

As previously reported, pricing was set at 2 p.m. ET on Sept. 10 using the 1.5% Treasury due Aug. 31, 2021 plus 50 basis points for the 3.125% notes, resulting in a tender consideration of $1,019.13 per $1,000 of notes, and the 1.5% Treasury due Aug. 15, 2022 plus 45 bps for the 4% notes, resulting in a tender consideration of $1,045.38 per $1,000 of notes.

Holders will also receive accrued interest.

Tendered notes may have been withdrawn at any time before the expiration time.

With respect to accepted notes delivered under guaranteed delivery procedures, holders will receive payment of the consideration on the business day after the guaranteed delivery time plus accrued interest. The guaranteed delivery time is expected to be 5 p.m. ET on Sept. 12, and the guaranteed delivery settlement date is expected to be Sept. 13.

The tender offer was subject to a financing condition, which has been satisfied. The company said it priced $900 million of 2.8% senior notes due Feb. 15, 2030 on Sept. 4 at 99.92 to yield 2.809%, or 135 bps over Treasuries.

The dealer managers for the tender offer are J.P. Morgan Securities LLC (866 834-4666 U.S. toll-free and 212 834-3424 collect) and Citigroup Global Markets Inc. (800 558-3745 U.S. toll-free and 212 723-6106 collect).

The information agent is D.F. King & Co., Inc. (866 864-7961 U.S. toll-free, 212 269-5550 collect or amphenol@dfking.com).

The designer, manufacturer and marketer of electric, electronic and fiber optic components is based in Wallingford, Conn.

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